- Jul 4, 2017
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I might not have explained myself very well: a platform that "works like" patreon (but is not shit) that does the pay-in and pay-out with crypto, and provides whatever services are necessary to help the creator meet their tax obligations - i.e. provides the data with percentage breakdown of country of payment origin * relevant VAT rate for each payout. Then it is up to the creator to input whatever crypto -> currecny conversion rate they acheive on their own payout. So at each reporting period, the data can be provided and the creator can pay the tax authorities out of their own responsibility.Crypto for creators has it's own problems for me as a creator. The biggest benefit a platform like Patreon and Subscribestar have for me is that they take care of VAT. If I where to accept Paypal/Crypto or another form of direct donation I would be on the hook for paying VAT. I would need to know where the donation came from and pay VAT to that country. (And of course every country has it's own VAT percentage which I would need to know, keep on top of changes and look if for some reason I might be exempt from VAT in that country.) In short it is a B. And well I could ignore it of course but it is generally accepted to not fuck with the IRS no matter what country you are in.