New EU tax law puts thousands out of business
We’re here to help you! A major revision to the VAT tax in the European Union tax has caused the shutdown of thousands of businesses because they cannot afford to meet the complex rules and bureaucracy required.
Designed to prevent large businesses locating themselves in VAT-competitive territories, it had the predictable effect of drowning small businesses under a sea of bureaucracy, forcing them to access the data required to prove the customer’s location, figure out which of more than 80 VAT rates to apply, and issue an invoice in the correct language, currency and layout. Unable to afford the costly software required to deal with the regulation, thousands of small business and sole traders have closed or abandoned their enterprises. Most of those who have continued to trade have either moved to third party platforms, losing up to 70 percent of their total revenue (not just non-domestic sales) in commission, or spent thousands on software.
“The human cost to these businesses is vast”, Clare Josa is co-founder of EU VAT Action commented for EU Observer. “The only reason the Digital Single Market is still functioning is because awareness levels are below 5 percent, so most businesses are continuing to trade under the former system. As awareness rises, the damage will soar.”
Read the whole article. The quote above only gives a small taste of the problem caused entirely by government bureaucrats and elected officials who seem divorced from reality. And though this is a European governmental disaster, it is instructive for Americans to learn about it. Like Obamacare, the new VAT tax rules were imposed with the best of intentions, but completely ignored the reality of meeting those intentions. The result is financial ruin for thousands of businesses and individuals.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
We’re here to help you! A major revision to the VAT tax in the European Union tax has caused the shutdown of thousands of businesses because they cannot afford to meet the complex rules and bureaucracy required.
Designed to prevent large businesses locating themselves in VAT-competitive territories, it had the predictable effect of drowning small businesses under a sea of bureaucracy, forcing them to access the data required to prove the customer’s location, figure out which of more than 80 VAT rates to apply, and issue an invoice in the correct language, currency and layout. Unable to afford the costly software required to deal with the regulation, thousands of small business and sole traders have closed or abandoned their enterprises. Most of those who have continued to trade have either moved to third party platforms, losing up to 70 percent of their total revenue (not just non-domestic sales) in commission, or spent thousands on software.
“The human cost to these businesses is vast”, Clare Josa is co-founder of EU VAT Action commented for EU Observer. “The only reason the Digital Single Market is still functioning is because awareness levels are below 5 percent, so most businesses are continuing to trade under the former system. As awareness rises, the damage will soar.”
Read the whole article. The quote above only gives a small taste of the problem caused entirely by government bureaucrats and elected officials who seem divorced from reality. And though this is a European governmental disaster, it is instructive for Americans to learn about it. Like Obamacare, the new VAT tax rules were imposed with the best of intentions, but completely ignored the reality of meeting those intentions. The result is financial ruin for thousands of businesses and individuals.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
I do not agree that Obamacare was imposed with the best of intentions. It was designed to create chaos and frustration so that the bureaucrats could later ‘fix’ it with a single payer system.
Ted – same here.
“government bureaucrats and elected officials who seem divorced from reality”
Sorry. Not divorced – they just have their own sense of desired reality. EU socialists (as their Communist cousins) always have big problems with “small businesses”. To difficult to control and supervise. They would just as well like the neighborhood butcher shop (or anything else) to be gov’t run and staffed with gov’t employees.
If it doesn’t work – so what! If people complain – ha ha ha – oh boy! Waiting for Madera to solve his country’s problems with mass arrests and disappearances.