Funding portal Patreon has announced plans to take care of
complicated new VAT payments for creators selling their content
within and across Europe using the platform. The move comes in
response to a large and ongoing outcry against recently implemented
EU-wide tax revisions that ironically negatively affect the small
businesses they were created to protect.
Since 1 Jan 2015, any business of any size selling digital
content across the EU must now file a tax return in the destination
country, rather than the one the company is located in. Many small
traders have been left with the harsh choice of incurring vastly
increased accounting costs to abide by the rules or closing their
businesses.
By: Matt Kamen,
