> The investment is VAT free, however, I am told that
> the service fee of an intermediatory, such as
> ourselves is subject to VAT. Therefore in those
> countries that have BTW/VAT/IVA I have dutifully (not
> happily) collected it on behalf of the government on
> my fee ONLY.
>
> Point me the way, if you feel that this is in error
> and I will gladly stop collecting it, it would
> certainly easey my bookeeping, a heck of a lot
This is a very complicated area. But you should be able to find a way around it. I
won't even begin to try and advise you on where your "place of provision of services"
is, but you need to figure that out and agree it with your tax authorities as it is
important. In some circumstances it will be the place you are at, in other
circumstances it will be the place your customers are at.
However, in principle you shouldn't have to collect VAT from people who are in
business in another EU state (as opposed to consumers). I would imagine many of your
customers are buying for business purposes - this definitely includes those wanting to
invest in high yield scams etc. Provided you have proof they are in business *even if
they do not have a VAT registration* then you can zero rate supplies to these people.
Another idea would be to incorporate your business in several different jurisdictions.
For example, you could incorporate a UK company to handle UK business. You can turn
over up to approx GBP 50,000 per year (your fees that is, not the actual gold) before
you have to register for VAT in the UK, and if you're not registered you obviously
don't have to collect it... If you look at the VAT on GBP 50,000 this will be a big
saving which will much more than cover your legal and book-keeping fees in running
another company.
offshoresurfer
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