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Del Wellman
Registered User
Join date: 24 Jan 2007
Posts: 168
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09-29-2007 05:23
I live in the UK but rent land on a private island. I pay tier to the island owner in L$. If the island owner does not live in the UK would there be any VAT involved in our dealings.
The island owner does not get charged VAT so would not be required to recoup it from me.
If the anwere is NO VAT is involved then would is this be a solution for UK (or European) residents to avoid paying VAT?
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Ciaran Laval
Mostly Harmless
Join date: 11 Mar 2007
Posts: 7,951
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09-29-2007 05:25
L$ transactions are supposed to be VAT exempt. So no VAT should be due on any inworld transactions that only involve L$.
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Incanus Merlin
Not User Serviceable
Join date: 12 Apr 2007
Posts: 583
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09-29-2007 05:37
Basically yes, which is why European landlords are about to watch their businesses go into the red/fold, unless fellow Europeans want to help support them by renting/leasing on European owned mainland/islands.
Some hope, eh? I'm expecting self-interest will dictate the majority action.....
Inc
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"The wide world is all about you; you can fence yourself in, but you cannot for ever fence it out" - Gildor Inglorion, LOTR 
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