Vat?

[Nial]

So, Im reading the posts on this game and deciding whether to get it. Though I'm not totaly comfortable with the amount of issues/ complaints. I know that I have every game AGEOD has made and have been satisfied with all, sans no NC grand campaign

This may be a dumb question, but whats VATS stand for?

Nial

[Le Ricain]

So, Im reading the posts on this game and deciding whether to get it. Though I'm not totaly comfortable with the amount of issues/ complaints. I know that I have every game AGEOD has made and have been satisfied with all, sans no NC grand campaign

This may be a dumb question, but whats VATS stand for?

Nial

In what context is the word 'vats' being used?

[PhilThib]

If it is on prices, it means (Value Added Tax)...this is something European customers will pay, but it's build inside the price already, so it's transparent for them...

For American customers, it's much better: they don't pay the VAT

[Nial]

Thanks, Yes it is on pricing. Wasn't sure if I should check the with VATs box or not, having no idea what it was.

On a sarcastic note. I just love these names they come up with for taxes. Value added Tax. Like the tax is adding value to your experience/ purchase. Only governments can think up these things. LOL

Nial

[PhilThib]

I just heard recently it was a US Government invention (during the Civil War IIRC)...always thought before it was French...

[soundoff]

I just heard recently it was a US Government invention (during the Civil War IIRC)...always thought before it was French...

Nah Phil, I must stick up for our American cousins on this one....its all down to the French. Introduced in France on 10th April 1954 as taxe sur la valeur ajoutee or TVA

Its one 'export' you made to most of the world that should have firmly remained at home

[Rafiki]

If it is on prices, it means (Value Added Tax)...this is something European customers will pay, but it's build inside the price already, so it's transparent for them...

I know there aren't many of us left, but non-EU Europeans don't need to pay VAT on goods purchased from within the EU

[Le Ricain]

Nah Phil, I must stick up for our American cousins on this one....its all down to the French. Introduced in France on 10th April 1954 as taxe sur la valeur ajoutee or TVA

Its one 'export' you made to most of the world that should have firmly remained at home

I am afraid that PhilThib is correct. One of the provisions of the Internal Revenue Act of 1862, enacted by the US Congress in July 1862, was the introduction of Value Added Taxes on manufactured goods and processed meats.

[Bertram]

And it isnt a tax that adds value, but a tax on the added value. So if you buy something for 10 simolians, and sell it for 15 simolians, you pay taxes over 5 simolians.
That was actually an improvement over some previous systems, that just taxed the value of items sold, and where the first buyer had to pay taxes over 10 simolians, and the second over 15 simolians. That tax punished distributors and long distribution chains, and drove prices up considarably.

[soundoff]

And it isnt a tax that adds value, but a tax on the added value. So if you buy something for 10 simolians, and sell it for 15 simolians, you pay taxes over 5 simolians.

You made my point very nicely Bertram. The 1862 Revenue Act did not levy taxes on the added value but rather on the value itself.

[Le Ricain]

And it isnt a tax that adds value, but a tax on the added value. So if you buy something for 10 simolians, and sell it for 15 simolians, you pay taxes over 5 simolians.
That was actually an improvement over some previous systems, that just taxed the value of items sold, and where the first buyer had to pay taxes over 10 simolians, and the second over 15 simolians. That tax punished distributors and long distribution chains, and drove prices up considarably.

I believe that you are probably correct in that the ACW Value Added Tax would have been based on the total value rather than the added value, ie your second example. However, it was called a 'Value Added Tax' at the time. Probably for VGN purposes the difference does not matter. The tax was assessed on manufacturers rather than consumers (as in a sales tax), although the consumers would have paid for the tax by increased pricing.

[tagwyn]

Arne: What does this have to do with AGEOD games? t

[Rafiki]

Arne: What does this have to do with AGEOD games? t

Because AGEOD sells games internationally, and it matters greatly for the price whether or not you can deduct VAT from that price.

But it does suit the forum for the online shop better, so let's move the thread there

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