News for hackers. Stuff that matters.

A comment on Don’t wait for billionaires to sell their stock. Tax their riches now. Parent comment

Re:Don’t wait for billionaires to sell their stock. Tax thei... by laurencerowe on Wednesday April 14, 2021 @11:09PM (#26815819)
From a consumer perspective VAT as implemented in Europe much simpler than sales tax in the US. The price advertised is actually the price you pay.

As a business it’s really not that much more complex. Add VAT to all the invoices you send out. Keep track of how much was charged to you by your suppliers. Pay the difference to the tax man.

[ Parent | on HN ]
Re:Don’t wait for billionaires to sell their stock. Tax thei... by rags2riches on Thursday April 15, 2021 @02:10AM (#26816676)
It's simple enough for honest folks. Yet it also enables VAT carousel fraudsters to illegally get their hands on billions each year.

https://en.m.wikipedia.org/wiki/Missing_trader_fraud

[ Parent | on HN ]