Gavin
I dont think it is *impossible*. But it is not as easy as you suggest
below. How do you think that Clint & CO are to repatriate the profits of
the BVI company as non taxable income? What would they do with the tax
losses created in the UK? The costs of setting up a scheme, even if it
where viable, are not going to be small.....
Large UK corporates typically have overseas subs as mixer companies to try
to take advantage of different overseas tax regimes, not as a means of
reducing their VAT bill.. Freeserves efforts to move overseas & save VAT
are driven by the opportunity to save �ms, not �000s
Dont get me wrong - I wish it was easy to make this go away. And I think
there is a slight irresolvable "unfairness" in that the US & overseas guys
have taken us over the threshold with consequences for us all. But hey,
the upside is a much expanded player pool which is definitely worth
something
Cheers
Mike
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Message: 6
Date: Sat, 8 Jun 2002 18:19:33 +0200
From: Gavin Wynford-Jones <gavinwj@compuserve.com>
Subject: Re: Avoiding VAT
Moving the business offshore would mean moving the computers &
the employees
of MiddleearthGames - you cant just register a company
in Bermuda....VAT applies to all services rendered in the UK - it doesnt
matter that
Clint's output is then sent overseas
You set up a company in, say, the BVI. That is the company that
US and other non-EU players deal with. That company subcontracts
the running of the turns to MEPBM in Wales. MEPBM Wales charges
the BVI company a very low rate for the service. Legally, the
two companies are distinct. MEPBM Wales brings its turnover
down below the VAT threshold and everyone is happy, except
the Excise folks.
And if you think it's impossible to do, I suggest you look at
the register of large US and European companies that have
offshore subsidiaries for the very reason of diminishing their
tax bills.
Off course, this wouldn't be an issue if the bureaucrats
in Whitehall and Brussels weren't so intent on taxing us all out
of business...
Gavin
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Message: 7
Date: Sat, 8 Jun 2002 12:47:23 -0500
From: "shelljay shelljay" <moshelljay@hotmail.com>
Subject: Variant Game Information
I am curious about the Gunboat and Last Alliance variants to the game.....if
you've information and care to share with a newer player.......
[Non-text portions of this message have been removed]
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