:clap: this is also a way to maximize winsQuote:
Originally Posted by Fortune Affiliates
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:clap: this is also a way to maximize winsQuote:
Originally Posted by Fortune Affiliates
Hi Insider,
Please see:
KPMG whitepaper on “Changes to the place of supply rule in 2015 – How do they affect eGaming?”
http://www.kpmg.com/IM/en/IssuesAndI...ly-egaming.pdf
PokerNews article on “New VAT Laws Could Cost Online Gaming Companies Tens of Millions”
http://www.pokernews.com/news/2014/1...ions-19875.htm
Most importantly have a look at the European Commission site which officially lays out the “Telecommunication, broadcasting and electronic service” legislation
http://ec.europa.eu/taxation_customs...m/index_en.htm
In future we ask that you please get your facts correct before posting defamatory comment such as “the newest farce and shocker from this company”.
Operators are required to register for and pay VAT on players in EU territories which currently include Germany, Ireland and France. Fortune Affiliates does not accept traffic from France so only players from Germany and Ireland will be affected right now.
Fortune Affiliates is being open about tax implications on affiliate earnings the question is; “are other affiliate programmes informing you of these changes that affect you directly or are they implementing the tax without your knowledge?”
The only error that Fortune Affiliates has made is that when sending out the communication this week we mixed up the VAT amounts and informed our affiliates that Germany has a 23% and Ireland a 19% VAT rate when in fact it is the other way around.
An email with the correct rates is being sent out this morning to those affiliates that drive traffic in these regions.
If you would like to discuss the above further please private message us and we will be in contact with you.
Best Regards,
Fortune Affiliates
This is standard, a lot are just pulling out of Germany
Why should we alone pay for it ?Quote:
Originally Posted by Fortune Affiliates
You have several opportunities to compensate
e.g reduce the payout rate
offer less bonusses
reduce marketing
or, if we affiliates should pay, to offer us maybe 5-10% more to compensate but not coming around and say hey, you alone must pay for
To push your responsibility aside and just want to make others responsible to pay isn’t fair.
This all we can't control and finally you can do what you want, that's the bad side of this business
It's VAT that the government charges, if you are that worried about it set up a ltd corp and hire an accountant and claim it back like any other business does whilst at the same time getting other business costs tax deductible.
Quote:
Originally Posted by Insider
You cannot "compensate" or "discount" VAT. The government wants their share and the government will get their share. :)
Yes, taxes are a fact of life.
On the other hand, you want to make sure that the tax fees are structured correctly. Not speaking of FA but all programs. As with anything new in the stats we would want to look closely. Are they taking it off the top and then deducting again from your earnings? Some programs used to do this with bonuses until they were called out.
My question would be at what point is the tax deducted? Is it fair?
Did the Fortune rep miss the other thread in this forum?
It goes not around that a government required now a tax what must pay.Quote:
Originally Posted by Ixian
Of course VAT is variable but one can catch all costs, the question is only to which price.
Each company will try to absorb and compensate costs by saving elswhere. My question was why we should pay alone? It appears that FA is not willing to bear a part of these costs and wants to take us to the duty.
I mean if cost are necessary okay but then one should make it righteous and fair.
I can also understand that companies withdraw from the market if they have not much margins in a specific market and mean the cost are now to high.
But i believe that's not the case for FL.
Finally for all other companies it would give solutions as leave the market.
We never have any control about the finances, stats and what they are willing to show us. That's this business.
You are not paying the full VAT alone. It is an additional cost that effects their bottom line and that is why it is reflected as reduced commission earnings. It is simple business accounting and nothing more. No cheating going on and you are paying your fair share.Quote:
Originally Posted by Insider