18+ wolf480pl,
@wolf480pl@mstdn.io avatar

fuckin North Americans keep pretending VAT doesn't exist

icedquinn,
@icedquinn@blob.cat avatar

@wolf480pl it doesn't, for us. :blobcatrainbow:

18+ wolf480pl,
@wolf480pl@mstdn.io avatar

@icedquinn you have sales tax tho?

icedquinn,
@icedquinn@blob.cat avatar

@wolf480pl sales tax in the USA only applies if your business has holdings in the target state. otherwise its not collected.

icedquinn,
@icedquinn@blob.cat avatar

@wolf480pl we don't actually expect every business to know at all times what the tax rates are in every possible point of sale that could exist :cirno_shrug:

18+ wolf480pl,
@wolf480pl@mstdn.io avatar

@icedquinn by "your business" do you mean the buyer or the seller?

icedquinn,
@icedquinn@blob.cat avatar

@wolf480pl the business, in a business-to-citizen transaction.

arcana,
@arcana@layer02.net avatar

@icedquinn @wolf480pl plus not all states have it, New Hampshire stays winning

Not to mention in states where there is sales tax, it’s way lower than VAT rates in Europe

icedquinn,
@icedquinn@blob.cat avatar

@arcana there is a little fuckery about that here. the numbers seem lower on paper but they tend to compound on each other.

@wolf480pl

icedquinn,
@icedquinn@blob.cat avatar

@arcana @wolf480pl australia has GST but it doesn't compound on intermediate goods, the tax is applied to the end of line that makes up the final product.

in the USA if i recall they collect at both ends constantly; i get taxed buying it, you get taxed getting the money as income, and this process happens again to every intermediary, though there are some shenanigans around this i forget what they are here.

icedquinn,
@icedquinn@blob.cat avatar

@arcana @wolf480pl if i remember linden lab charges you VAT because the EU threw a fit, but as an american company they just pocket it because they have nobody to send it to. then the EU left them alone.

the EU is fucking stupid, but eh

18+ wolf480pl,
@wolf480pl@mstdn.io avatar

@icedquinn @arcana
are you saying in US, the sales tax is also paid on business-to-business transaction?

icedquinn,
@icedquinn@blob.cat avatar

@wolf480pl @arcana one way or another, every single thing in this country is taxed.

18+ wolf480pl,
@wolf480pl@mstdn.io avatar

@icedquinn @arcana
is it designed such that you don't know what tax you're supposed to pay, so you have to pay a tax company to calculate that for you?

icedquinn,
@icedquinn@blob.cat avatar

@wolf480pl @arcana no its designed to drain money out of the economy however possible to delay hyperinflation from the fed's infinite money printing

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