Category: Business News

Does your company have commercial relations with European partners? Are some of your customers located in another EU country? You are, without doubt, concerned by intra-community VAT. This tax, introduced in 1993 to standardize the tax system in Europe, meets strict rules. 

How it works?

• Intra-community VAT on sales of goods.
• Intra-community VAT and the provision of services.
• Intra-community VAT for sales to non-taxable persons (individuals)

Which companies are subject to the intra-community VAT regime?

Intracommunity VAT on sales of goods

Principle of intra-community VAT: goods sold from a member country of the European Union (intra-community deliveries) to buyers established in another member state are exempt in the country of departure. In return, the purchase (intra-community acquisition) is taxed in the country of destination, according to the conditions in force in that country. Using the sales tax calculator  is important there.

Practical examples

Your company, established in Belgium, buys goods from a Luxembourg company. This is an intra-community acquisition. You will receive an invoice without VAT provided you have provided a valid intra-community VAT number to your suppliers. Since delivery takes place in Belgium, you are then liable for Belgian VAT . You indicate the amount to be paid in your VAT return in Belgium.

Note: in some cases, this VAT is deductible. This is the case in France, where VAT is deductible upon receipt of the goods. For this, you must respect the invoicing rules: mention of the price excluding tax and indication of the intra-community identification numbers of the supplier and the purchaser. Check with the competent administration.

Your company delivers its products to a partner in France. It then makes an intra-community delivery . You must issue an invoice without VAT. Your business does not pay VAT provided certain conditions are met:

• the seller and the buyer must be subject to VAT
• the two intra-community VAT numbers must be valid and appear on the invoice
• delivery must be made against payment and you must provide proof of transport outside Belgian territory
• You then proceed to a self-liquidation of the amount in your Belgian VAT return

As a reminder: movements of goods within the European Community are subject to a declaration obligation both for their entry and for their exit from the territory (Intrastats).

The self-assessment of intra-community VAT:

This involves including in your declaration the theoretical amount that should have been paid to the Belgian State by your company during this operation. Then, this amount is deducted (fictitious reimbursement by the Belgian State) so that the operation is null.

Warning: always check the authenticity of the VAT number transmitted

During an intra-community transaction, it is essential to verify the authenticity of the intra-community VAT number transmitted by your business partner. Indeed, if this number is false, your transaction will be treated as an individual transaction. You will then have to pay VAT. You can do this free of charge using the automated VAT information system (VIES) set up by the European Commission. Your company sells a product …

Making the transition from working in an office setting to working from home can be challenging for many people. It takes time to learn to be productive while juggling the responsibilities of household chores and job assignments. Use these three tips to help you adjust to your new routine so you can reap the many benefits of working from home.

Make Sure You Have the Right Equipment

Different jobs require various types of equipment. Make sure you have everything you need in one place. You may also want to ensure you have a plan in place for when equipment inevitably breaks. Find copy repair Washington DC and printer services to ensure you can have problems fixed immediately and increase productivity.

Try Creating a Schedule

Learning to manage your time is often the biggest challenge of working from home. There are dozens of schedules you can try and different people find various ones helpful. A time-blocking schedule may be beneficial for people who are trying to complete more tasks in a shorter period of time.

Give Yourself Some Privacy

Family members and roommates may distract you even if they don’t mean to. You’ll be more productive if you have some privacy. You’ll also be more likely to put off household chores if you can’t see them while you’re working. Try to use a spare bedroom for an office if you can or create a makeshift cubicle in the living room so you have a designated workspace.

Learning to be productive while working from home is a process. It is important to give yourself a little grace as you navigate such a big change in your life, but once you adjust, you can reap the benefits of working from home. Use these three tips to make the adjustment process easier so you can focus on enriching your life with a better work/life balance.…

 

What is tokenomics? Tokenomics contains two words; tokens and economics. It refers to the value of a token that can make investors want to develop an ecosystem around the underlying or internal project of that token. It studies how cryptocurrencies impact the broader ecosystem right from the creation of a coin to its management.

Tokenomics is a massive subject that has a lot of components which are:

The founders

Like any other successful project, there is a powerful team behind a token’s inception. The team is crucial in determining if the token will come into fruition or not. For instance, the famous Basic Attention Token (BAT) gained global widespread because of the powerful team behind it, with its central founder being Brendan Eich, the founder of Mozilla Firefox and javascript.

The business model of the project

One of the things put into consideration with tokens is its business model, and how it is going to work to bring back profits. For a token to be successful, it has to have a robust business model to make money with.

For instance, cryptocurrencies such as bitcoin are only useful in payment purposes; therefore, they don’t need a complex business model. On the other hand, decentralized tokens that aim to be more than paying systems must have a sturdy business model.

Branding

Branding and public relations include the most critical components of tokenomics. A token project has to be backed up by a community of users. No matter the quality of a token or how big it sounds, without marketing to build the sales and consumer engagement, it is bound to slug. 

Many crypto projects tend to focus their energy on building the token and forget the community. While it is still advantageous to build more on the product, ensure that someone in the team regularly interacts with the users.

It is vital to offer attention to the potential community as successful tokens have the most active buyers.

The legal requirements

The project has to have a legal team that is supposed to cater to its legal compliance. Before you set out on a token scheme, ensure that the project you have interest in is legally compliant with that country’s regulations. It is advisable to seek a lawyer such as Christian Ellul for legal advice on tokenomics. 

For instance, following the massive ICOs raised in 2017, 2018, they came under scrutiny on legal matters through different governing bodies. It means that as much as the crypto space is unregulated, it is crucial to lawyer up and maintain judicial transparency as much as possible. To the project founders, it also builds confidence with the users as they have an assurance of legal backing in the project they are investing in.

Substantial utility

Substantial utility means that the project has to contribute to the real-world utility or be of value to the real world. If it is bringing value to the market, it is a worthy investment.

For example, if the project’s platform depends entirely …

Data science can be defined as the theory to gather statistics, inspect as well as transform data, study computer algorithms, learn specific knowledge and analyse data performance. It uses enhanced theories and data methods to give a different view of things in the field of research, information and many more including computer science to be specific. Many experts have started considering data science as just another term for statistics. Data science is not separated from statistics by the size or set of data or use of computing rather many postgraduate programs wrongly advertise their analysis and statistics training as the requirement of a data science syllabus. Data science can aptly be considered as an applied field coming out of traditional mathematics. To give a brief idea, data science can be correctly explained as an applied network of statistics.

 

Requirements for being a data scientist

 

1) Right role: There is a wide range of roles in the industry of data science out of which some include the job of a data engineer, data manager and data scientist. To choose the right role, one must look precisely at the work experience, background and self-estimation. It is well-advised not to make a fast decision in choosing a role because it is always a wrong way of approach towards a goal. Moreover, one must clearly focus on what the situation demands and entertain it accordingly to ensure a safe and secure job role. Talking to people or getting a detailed description from an experienced work person always proves to fruitful while taking a career decision. Industrial people enhance this benefit by being a helping hand to persons wishing to be the same in the field of data science. Self-evaluation of the skills that one possesses becomes an essential factor in this long run.

 

2) Course enhancer: After choosing the role, the next step is to study and gather knowledge on that field. It requires a lot of dedication as well as an effort to gain an idea about the job is and what the specifications are. One can avail a MOOC to get through all the possible human errors to have the upper hand in an entertaining long run program. Taking up a short survey by calculating the risks, assigning tasks to self and becoming an active member in discussions are the most required skills which should be an initiative to become successful in availing opportunities.

 

3) Language stock: Here again, one has to deal with some experience, as mentioned earlier. Understanding what a language is all about should be the foremost scenario before choosing a language to work with. One can search the web for a suitable as well as an understandable language so that there remains no ambiguity while making a decision for the future career.

 

4) Active participation: Mental aspect is something that one has to deal with on their own. That is why it is recommended to gain motivation for the work for a healthier peace of mind as well …