Hi, Sunday, September 14, 2003, 8:52:45 PM, you wrote:
> Yep, and the sales these dealers are making WILL result in the exchange > of goods/services. It is an order only if no commitment has been made, > once this has been done (usually financial, but could be a legal > commitment) it is a sale - ask the IRS. If you buy something on ebay or > any other way, the sale is made when you send the cash, not when you > receive the goods. Doesn't matter what part of the world you are in - > its all the same. this is not the case in the UK. The Inland Revenue has the notion of a 'tax point'. This is the date when the seller becomes liable for tax on the goods sold. It is normally the date when the goods are exchanged. For mail-order sales that means the date when the seller despatches the goods. Ordering something doesn't constitute a sale. This is also true from the charging point-of-view. The seller will debit your account only after the goods are despatched, not before. However, when you placed your order the card will have been authorised and your 'open to spend' figure reduced, awaiting confirmation of the sale, or some time for it to lapse. I suspect, but don't actually know, that this would also be the date when a change of legal ownership is established. As far as I know (having been in charge of financial systems for the .co.uk part of a US dot.com) the same rules hold throughout Europe and the USA. They may vary in other countries. -- Cheers, Bob mailto:[EMAIL PROTECTED]
