Not really, that’s why they got themselves a financial institution license.
That’s what I meant. With their prior structure, they couldn’t hold the money for more than X days without issuing an invoice. With the current structure, yes.
EDIT This thread should definitely be pinned, btw.
Yea so thats why I think buying and selling would a better solution for SWAPD users, all licenses etc are in place for it, swapd could even charge interest on long tickets 
But I get their stance on this, it does change the responsibilities of swapd etc.
Btw I saw you charging 21% vat on ur sales thread; this surely won’t apply to everyone. I would suggest you put your price Ex. VAT and then the buyer will know how VAT applies to him, you cant know beforehand
It would DEFINITELY be better for users, definitely. But… unless they can terminate all transactions within 30 days, its a problem.
Thats the accountant’s problem
My prices are excluding VAT.
Prices + SWAPD fees+VAT. Payment by Bankwire or Paypal. Due to this new notice as of Jan 12th 2021, I am now forced to collect 21% VAT on all orders. If you are an EU VAT VIES registered company or individual, you do not have to pay it. If you are a non-EU company and have a fiscal / tax residence document for you or your company, you will not have to pay for it as well.
You cant be forced to collect 21% VAT on all orders. If the buyer of the service/asset is a private person, VAT applies in the country of the buyer (A certain amount is allowed to be declared in your own country sometimes) . This is not always 21% in all countries
No, no, prices I list are non inclusive of VAT. So we agree there I guess.
You are ABSOLUTELY right about me not having to collect taxes if the client is nonEU. Absolutely right!! So he must prove it with a fiscal residence document.
As to what you’re saying about me not having to collect VAT to a private person, yes, I do have to. What are you even saying? Try buying any service from any EU company (legal, of course), you’ll see how you get charged the VAT… IF it’s Tax Registered. Yes, there are some companies in DE or FRA that have a fiscal benefit for small revenue companies and allow them to register certain services without collecting tax. Unfortunately in my country this option does not exist and every service company has to collect tax. Believe me man, I have very good auditors/counselors for this… and there’s no way around it. I’m the first one who’d love to not have to charge VAT.
If you are doing volume online and your company is in Eu you are a fool.
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I think you misunderstood. What I meant is that as a company you have to charge vat to natural persons abroad and actually pay the VAT in their country because the transaction is considered to have happened over there. In some countries the 21% VAT rate can be 22% etc. But in most countries you are allowed to do a certain amount of sales and pay the VAT in your own country, but once you go above that limit in that country, you have to Register a VAT number in that country and pay VAT over there. EU is rolling out a new platform in July this year which will eliminate that issue (countries will arrange with eachother)
Accountant flies away
Where do you live?
Oh yea I forgot that there are non-EU people here, then my explanations don’t apply for them, only for EU
This would only apply if the service would be only usable in the country of the buyer, and it would still depend. For this type of work, trust me, I’ve done a lot of research and spent money on how to legally reduce this, and there is no way around it. If you want to deduct vat over this kind of service, you must have a non EU fiscal residence document… or the VAT VIES EU ID . That’s it.
But still you misunderstand what I’m saying haha. I never stated anything about eliminating VAT, I’m just explaining that VAT rates vary in the EU when selling online, thats all
Yes, and the VAT applied is the one of the provider giving the service… which is exactly why so many companies go to Ireland. Because they HAVE to BE there.
No, VAT is in the country of the buyer when it is a business selling to a natural person.
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Honestly? No offense but you’ve just proven you’d no clue what you’re talking about and I’ve basically been wasting my time here.
Do this: try buing anything to any EU service company right now. Good luck deducting THEIR country’s VAT without presenting a VAT VIES EU ID number.
Over and out!
A buyer that is a natural person can never have a VAT nr. So still, you misunderstand what I’m explaining.