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I’m Uk and VAT isn’t an issue for two reasons. Firstly you don’t *need* to be VAT registered until turnover is over £50k (or somewhere around that) although you can register if you want to claim VAT back on your outgoings, and secondly you don’t have to charge VAT to overseas companies, and all the casinos pay from overseas companies generally. That may change in the future once regulation is in place.
I choose not to be VAT registered as with my last company it was a PIA doing those things every quarter – you’re just a glorified tax collector – but if your outgoings with VAT are substantial you may feel it’s worth it irrespective of turnover.
Invoices, protocol would dictate that you should keep invoices, but as long as you keep some sort of record of payments you should be ok. I certainly don’t send invoices but I do keep a record of all monies received.
Simmo
I’m assuming that VAT is just like our GST (Good and Services Tax) as I’m sure New Zealand was inspired by the UK initiative.
But while everything you say is true – we can also claim back any GST paid on goods and services while running the business – which is many thousand $$$ a year.
Surely it’s the same with VAT – and well worth getting it sorted out?
After all you do intend to grow past 50K pa right ?OF course the BEST answer is ….. probably not to trust international affiliates but nip down to your local book supplies and buy a “UK tax book for dummies” … or spend 15 minutes talking to your accountant to understand the basics.
:notify:For us – our GST return is a refund EVERY six months – as we spend far more locally than we invoice locally – and it’s money in the bank !!
:bigsmile:VAT is payed by the person purchasing a product and basically you just act as the middleman passing this on, on behalf of the tax man.
Casino players do not pay VAT when they make their deposits, therefore how can you give the tax man your portion of the VAT that corresponds?
I think you would only be able to claim VAT from casinos based in the UK if that, as any which are licensed elsewhere do not pay VAT or taxes in the UK. And even if that was true then you would only have to claim VAT for your UK players….
Just my 2 cents.
Big thanks Paul, Simmo, Allseeing and Ian.
That is why i posted, i feel the PIA coming, quarterly here also,
(good way to learn english:…go CAP….rofl)Best thing is, now i don’t feel alone in this world,
Seems the same here in Holland as it’s in the UK and NZ, except here it’s the gov. that decides if you are VAT or not….
good thing here i dont need to pay VAT, if the other country is outside Holland, but accountant says i have to write an invoice still, with the words “Vat due under the reverse charge rule”Ok, you guys dont send invoices, a good idea to treat some as cash transactions
(btw, i dont want to claim the vat Allseeing, just dont want to pay it…)
Thx guys!!
I’ve had several discussions with my accountant regarding the Value added tax and Affiliate Commissions.
My point is that it is not possible to pay this tax on a foreing income.
The tax office statement here, is that since the activity is performed from the national territory, the VAT is applicable.Wrong IMO since in the exportation of goods no domestic taxes are paid.
We are exporting a service from our countries and receiving a payment.I’m looking for an offshore structure in the future to avoid this tax
the policy here (netherlands) is
in case of advertisements
the duty of paying the VAT lies in the country where the service is taken
(srry for bad language)
Same in US and Canada.
In fact I get my GST (the VAT in canada) refunded, because I pay it for everything i pay for in Canada, but collect $0, since all my revenue is foreign.
Before I received my first check, i spent about an hour on the phone and faxed several documents to the tax lady, before she understood what was going on.
I would think you wouldn’t have to pay the tax, since there was no value added in your country.
AmCan wrote:Same in US and Canada.In fact I get my GST (the VAT in canada) refunded, because I pay it for everything i pay for in Canada, but collect $0, since all my revenue is foreign.
Before I received my first check, i spent about an hour on the phone and faxed several documents to the tax lady, before she understood what was going on.
I would think you wouldn’t have to pay the tax, since there was no value added in your country.
Exactly the same situation for me – unless I’m doing consulting work here in New Zealand for local clients of course – then my local invoices have GST added to them.
sigh.gifIt’s the same in the UK generally.
However, it’s not limited to Holland as you’ve stated above elgoog. You could be liable for VAT from any affiliate payments coming from within the EU countries.
Doolally wrote:It’s the same in the UK generally.However, it’s not limited to Holland as you’ve stated above elgoog. You could be liable for VAT from any affiliate payments coming from within the EU countries.
My accountants says that (under restrictions) it is limited to Holland,
“Vat due under the reverse charge rule”
