Post
Topic
Board Mining (Altcoins)
Re: Swedish ASIC miner company kncminer.com
by
timmmers
on 04/09/2013, 12:44:29 UTC


If you are in the EU, not at all. Sweden is an EU company, and any EU registered company is considered an intra-community operator - you can buy and sell goods without any VAT between EU registered companies.

Because of my work I constantly deal with EU companies and I can guarantee you that there is no VAT in anything I buy/sell in the EU. In fact, my KNC miners have 0% VAT on the invoice.



That is simply not true. You always have to pay VAT in the EU. As to when, that strongly depends on certain factors. Consumers do it immediately, small businessses (in Germany) have to pay until the 10th of the next month and big companies do it at the end of the year.

no. the vat a business has to pay is the vat it GETs FROM customers. a business does not pay vat, it´s the customers. the business only collects it. when you buy soemthing as a business the invoice contains vat, but you deduct this vat from the vat you are collecting from your customers (= no vat). if you buy something from another country that is in the EU for your business, there will not be any vat.

+1. Mota, I'm afraid you're wrong on this one. Business inputs aren't Vat-able. A business can sell to another business within the EU without charging VAT as long as the recipient business quotes their EU VAT number, but it does have to be a cross border trade to be able to do this.
So, if you're mining as a business, do you pay VAT on the mined coins?

Edit: That would be the consequence.

You pay VAT on things you PURCHASE, not on things you create. Not all things you purchase attract VAT either, gold and currency for example don't among many other items.
VAT is a way for government to collect tax from the consumer by using businesses to do this. VAT is also 20% not 23% here. If you can claim the VAT back, you can more than likely claim the computer equipment as a capital business expense and get some of the cost back from the tax man too.