undefined | Better HN

0 pointsTekMol4y ago0 comments

So this is a yes + yes from you. I also tend to think that I could use the service and be able to deduct the expense from my earnings.

In the scenario I imagine, there is now VAT involved. The website does not even provide an invoice or anything.

I can very well imagine this becoming a real scenario. At the latest when DAOs and AI are combined to provide services that completely live in the digital realm. Without any location at all.

0 comments

1 comments · 1 top-level

JusticeJuice4y ago

> So this is a yes + yes from you.

No - it's a yes + no. To get the VAT portion of your tax bill back/decreased back, you need to be a VAT registered business, trading with another VAT registered business, and you need invoices to prove this trade. Its not like the tax departments check every invoice, but if you got audited and you didn't have them, you'd be done for tax fraud.

> I also tend to think that I could use the service and be able to deduct the expense from my earnings.

That's not like a tax break to be clear, that's just not being a profitable business.

j / k navigate · click thread line to collapse