[Announcement] EU VAT Update Dear players, We have been informed that the European Union (EU) has adopted new VAT laws for all online businesses. R2Games is legally obligated to begin collecting VAT from players in all EU countries starting January 1st, 2015. Please see the list below for the current VAT rates for each EU member state, which has been effective since July 1st, 2014. Member State - VAT Rate Austria - 20% Belgium - 21% Bulgaria - 20% Croatia - 25% Cyprus - 19% Czech Republic - 21% Denmark - 25% Estonia - 20% Finland - 24% France - 20% Germany - 19% Greece - 23% Hungary - 27% Ireland - 23% Italy - 22% Latvia - 21% Lithuania - 21% Luxembourg - 17% Malta - 18% Netherlands - 21% Poland - 23% Portugal - 23% Romania - 24% Slovakia - 20% Slovenia - 22% Spain - 21% Sweden - 25% United Kingdom (UK) - 20% In accordance with the new EU VAT laws, we will begin collecting VAT from European players on our English platform. The tax will be added when purchasing in-game currencies. When purchasing, please make note of these changes. If there are any future changes, an additional announcement will be made. If you have any questions with this change, please do not hesitate to contact us. R2Games January 23, 2015. what is VAT: A value-added tax (VAT) or also goods and services tax (GST) is a form of consumption tax. From the perspective of the buyer, it is a tax on the purchase price. From that of the seller, it is a tax only on the value added to a product, material, or service, from an accounting point of view, by this stage of its manufacture or distribution. The manufacturer remits to the government the difference between these two amounts, and retains the rest for themselves to offset the taxes they had previously paid on the inputs. The purpose of VAT is to generate tax revenues to the government similar to the corporate income tax or the personal income tax. Also i think if you use a non-EU proxy you might circumvent this. or proxy + gaming cards (rixty and such) therefor you will not pay the VAT. But im not sure .. need to test this. PS: this will come sooner or later for all publishers. Originally quoted from Wartune News!
Posted on: Mon, 26 Jan 2015 08:44:41 +0000