Quick way for governments around the world to 2x VAT and GST revenues: Instead of asking millions of small businesses to *voluntarily* collect and remit taxes for foreign governments, ask Stripe to do it on their end.
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If I was the EU, I would mandate that
@stripe collect and remit VAT immediately. My guess is 80% of Stripe’s USA customers aren’t collecting and remitting VAT. It will be a huge burden lifted off the shoulders of small businesses.Pokaż ten wątek -
Another thing: I’m not against taxation (or privacy laws), but the EU really needs to look at how hard they’re making it for small businesses. The compliance is going to kill EU based startups, because companies in the USA are going to be able to move faster.
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For a perfect illustration of the confusion around VAT for US-based startups, look no further than this Reddit thread. https://www.reddit.com/r/startups/comments/enmh6n/saas_companies_tax_evaders/ …pic.twitter.com/Fl7NEsIDtN
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To me, it feels like we’re duplicating effort where we don’t have to. It doesn’t make sense to have millions of businesses collecting, remitting, and doing the paperwork, when the EU could deal with a small group of entities (Stripe, Paddle, Gumroad).
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