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Count Burks

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  1. Count Burks
    And again the magical wormhole where VAT goes up in thin air. Every business on the planet should start to print their own coin, sell it to their customers and let their customers pay for the service with their fake coins that have no value to then sell those fake coins to the next customer that comes along so they do not have the charge VAT. It's genius, why didn't anyone else came up with this idea before?
  2. Count Burks
    My question remains (see the thread title) as to why Linden Lab is setting up this scheme. Even if Linden Lab is paying the VAT out of their own pocket for some reason and everything is legal. And yes I have strong doubts how it is fair to let one person pay more than the other by using this kind of scheme. Nice signal to give to your customers. I think this is a shady construction no matter how you twist or turn it. I am also bothered by this graph as it does not properly display the correct market value either of the currency rate (again manipulation and shifting of value). Region Type Price US$ Price L$ Event Elite $599 L$164,725 Event Pro 30k $479 L$131,725 Event Pro $449 L$123,475 Full 30k $239 L$65,725 Grandfathered Full 30k $209 L$57,475 Full $209 L$57,475 Grandfathered Full $179 L$49,225 Homestead $109 L$29,975 Grandfathered Homestead $95 L$26,125 If Linden Lab would like to accept L$ for region payments and it is all legal they should allow anyone to pay for their regions using Lindens if they would like to offer this and at the normal exchange rate and also respect the VAT payments and VAT status on the account.
  3. Count Burks
    It is very simple why I complain about this. If I pay 600 USD to buy down from 279 to 179 I pay 600 USD$ for a 34.85% reduction in tier I expect that 34.85% will remain respected upon further reductions of the product price especially when it remains respected for other customer types like Educators. Seems pretty logical if Linden Lab can maintain the reduction in tier for educators they can honor it for the ones who paid hefty sums to buy down their regions. Other people can get their little bit of a discount as long as Linden Lab honors their deal they made with me. First coming to ask for 600 US$ to then let the value of that melt away without any compromise it very shady. Also it is very stupid from a business perspective to let the value of grandfathered regions erode as there is no longer much incentive to keep such a region online. Now people with grandfathered regions will keep these islands online even if they are just breaking even because the region has value. Once that value vanishes it just becomes junk and a burden not worth the time and hassle so then it just gets dumped.
  4. Count Burks
    This is not about the Lindex or how the Lindex functions or how the system has been functioning for the previous decades. This is about Linden Lab now accepting directly Linden Dollars for payment of private regions. Linden Lab is in fact now collecting Linden Dollars for payment which they will transact for USD currency through their own exchange or will destroy but then just print the same amount and sell that on their own exchange. Linden Lab is now accepting Linden Dollars as an equivalent for RL money and by doing so demonstrating the Linden Dollar has RL value. My issue is certain people need to pay VAT or GST on their regions while others do not because of this scheme. So it is discriminating towards certain users.
  5. Count Burks
    There is because Linden Lab receives 209 + 20% VAT or 41.8 US$ Per month or 501.6 US$ annually in tax from Customer A but not from customer B unless Linden Lab pays the 501.6 US$ for customer B out of their own pocket. Why would Linden Lab become so generous and pay 501.6 USD$ per year out of their own pocket so they can upsell a Premium+ membership package that makes them 109 USD in a year?
  6. Count Burks
    Beautiful island available. IM Count Burks directly in world today.
  7. Count Burks
    They are fine if these are user to user transactions inside of a virtual world or metaverse. Here you can read about a case on this particular topic and the outcome when trades are being made between users inside of a virtual world. Gaming & e-sports: the virtual world remains sales tax-free (for now) - Oppenhoff In this case it is a different situation as this is not about trades made in digital currency between users but the platform provider setting up a scheme allowing certain users to use their "worthless game currency" to pay for the company product and not charging VAT while others who pay in real world hard currency are in fact being charged VAT. This particular paragraph is most interesting in this context: Sales tax upon exchange into real money According to the BFH, this changes as soon as game currency is exchanged for real money. This is because a distinction must be made between the relationship between the players among themselves and the relationship between the player and the company operating the game. The game currency is basically a contractual right. This was transferred for real remuneration on the gaming company's internal exchange. Thus, this transaction was no longer confined to a mere participation in the gaming event, but took place in the real market.
  8. Count Burks
    So the VAT office is totally fine now with not receiving their 20% in value added tax anymore because Linden Lab is just accepting their worthless virtual currency they printed out of thin air? My god I am learning so much here today, incredible. Printing turtle coins out of thin air, selling turtle coins to users and accepting them for payment and no longer having to collect taxes. I am utterly amazed.
  9. Count Burks
    Yet they are accepted by the company as equal funds to the USD$ to pay for products and services. A company sells their identical product to two customers. Customer A pays in USD$ and also pays the VAT Customer B pays in currency that has no real world value and skips the VAT payment. And according to your logic the tax office would be ok with the fact Customer B has not paid VAT for the product because he just paid with virtual currency that has no real value?
  10. Count Burks
    The point remains that the VAT office receives 501.6 US$ yearly in tax from Customer A and nothing from Customer B unless Linden Lab would secretly pay the VAT owed by Customer B to the tax office. And this because Customer B is earning income from virtual currencies inside of a virtual world without declaring this income and that scheme is how the VAT tax is circumvented. I am aware there isn't any tax on user to user transactions inside of a virtual world, still in this case it is different because the platform provider Linden Lab is setting up a scheme to facilitate and bridge virtual world earnings to real world currency US$. This scheme allows a flow of money where customer A is paying VAT tax and gets billed VAT while Customer B is not (at least not in a transparent manner).
  11. Count Burks
    Customer A is a citizen of the UK and subject to 20% VAT Customer B is a citizen of the UK and subject to 20% VAT Customer A and Customer B both own a private region in Second Life Customer A uses his region for his personal home for him and his partner and pays 209 + 20% VAT or 41.8 US$ Per month or 501.6 US$ annually in tax. Customer B on the other hand uses his region for his club, he rents out shops and also does live singing in his club gathering more than enough income to pay his tier. Customer B can now just sell his Linden Dollar income to pay for his tier and only pays 209 USD and not a single amount of tax or VAT on his region. Customer B is not declaring income and revenue he generates from his activities, he is not a VAT registered business either. And more importantly the TAX office is not getting their 501.6 US$ per year from Customer B. This is how income is not being declared and how virtual currency which has no RL value is being used to circumvent payment of VAT or GST. Like I mentioned above in my first post. Others are required to be a VAT registered business and be compliant. Linden Lab is asking for your VAT number. Linden Lab is also asking you to identify yourself as the owner of your business. But now a magical wormhole is discovered where certain people such as creators or store owners or mini rental infrastructures are exempt from paying VAT on their region.
  12. Count Burks
    The entire situation is pretty disgusting. First asking for 600 US$ to buy down a region to then do the same for the rest of your regions without asking for anything. The ones that paid get screwed over without seeing anything for their money. But educators on the other hand continue to get their 50% reduction in tier. For the educators it is all possible but for the ones that pay large sums of money nothing is possible.
  13. Count Burks
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  14. Count Burks
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  15. Count Burks
    That is the whole point of this thread. The VAT or GST is vanishing in thin air by the use of the Linden Dollar for some people but not for others.
  16. Count Burks
    What a weird logic, Linden Lab takes their own property for payment which are Linden Dollars and what do you think they will do with these Linden Dollars? They will keep them under their mattress? They will just convert these Linden Dollars into USD$. Let me show you the magic wormhole and how VAT vanishes into thin air. Customer A owns a full region pays 209 US$ + 21% VAT Customer B owns a full region pays 209 US$ in Linden Dollars. The tax office receives 43.89 USD per month or 526.68 USD on an annual basis from customer A Customer B on the other hand is Premium + and pays no VAT because he can pay in fake currency for his region which is magically exempt from VAT. Premium + costs 249 USD annual with 11 USD per month stipend or 132 USD cash back per year, net cost of 117 USD. The magical tax wormhole works like this: For a small investment of 117 USD you can dodge 526.68 USD in sales tax (even more if you are in a country like Sweden). And all of this is possible thanks to the deployment of a fake currency which has no actual RL value? You know what such a scheme is called right? Linden Lab is not giving anything away in this case, they use a virtual currency which has been declared for the previous 20 years as a currency without any RL value as an instrument to circumvent VAT and GST tax.
  17. Count Burks
    This is not a product being offered as a "titanium premium subscription model" including free region or server space to every customer of the platform. This is about using deceptive tactics using a fake currency so certain customers can avoid paying VAT or GST while other customers cannot or are not allowed to use their fake currency according to this scheme. If free server space gets offered in a "Titanium premium" package it is offered to all customers on an equal basis, if a person wants it he can get it. This latest scheme is nothing of the kind. Why should the tax office receive 500 USD per year from Linden Lab customer 1 but not from Linden Lab customer 2? Has Linden Lab discovered a magical wormhole where the VAT just vanishes for certain customers while the wormhole stays closed for other customers? How is that working with invoicing? Client 1 books an invoice with VAT while client 2 books an invoice without VAT?
  18. Count Burks
    No because according to your logic webhosting services offering web space would have no intrinsic value and not be subject to VAT. Linden Lab is selling server space and software infrastructure which does have intrinsic value and is subject to VAT. This is about creating a manipulative shift using a fake currency so no VAT is getting charged to certain customers while others are being forced to pay VAT for the exact same product. And other people not being allowed to use their fake currency to pay for the exact same product, hence being forced to pay VAT and GST. Like I wrote above it is a "magical hocus pocus" scheme and I strongly doubt the legality of it.
  19. Count Burks
    VAT = VALUE ADDED TAX Tax added to the VALUE OF A PRIVATE REGION that is where the tax is located on the value of a private region. In this scheme the VALUE ADDED TAX goes up into nothing and doesn't exist according to Linden Lab because a fake virtual currency is being used to pay for the region. A currency that has no real value according to Linden Lab is being used so no VAT or GST is getting charged. This has nothing to do with pulling income out, no tax is being charged to one user while another user needs to pay tax for the same product. And the tax office is not getting their VAT because a fake currency that has no value is being used to circumvent the payment of the VAT. This comes from the Second Life wiki What are the items for which Linden Lab charges VAT or GST? Most services that you pay Linden Lab directly for have VAT or GST applied. This includes: Monthly & Quarterly Premium membership fees Purchases from the Land Store Mainland Land use fees (tier) Private Region maintenance fees Land auctions LindeX transaction fees What are the items for which Linden Lab doesn't charge VAT or GST? Transactions in L$ between individual Residents, that do not involve Linden Lab as a direct party, are not subject to VAT or GST. Person 1 is a merchant with a private region, he uses his L$ income to pay for his region and pays no VAT for the year. Person 2 is a land trader with 10 private regions, he cannot use his L$ income to pay for the same region products and needs to pay 5000 USD in VAT or GST for the year.
  20. Count Burks
    How can a company charge VAT, which they are legally obligated to do so to its customers while using their fake game currency which has no actual real value (according to this same company) to circumvent its legal obligations of charging VAT for other customers? We are not even speaking about different product types here. Company sells PRODUCT 1 on which they need to charge 21% VAT. Customer A can use fake game currency to pay for PRODUCT 1 without being required to pay 21% VAT. Customer B on the other hand has 5 times PRODUCT 1 with the company but is forced to pay 21% VAT when paying in legal tender using USD$. How are the IRS and the EU VAT office ok with this type of " scheme " where virtual tokens that have no value are being used to circumvent tax laws? For example: Customer A located in the Netherlands has a region for their RL company business used for simulation training. They pay in USD and also pay 21% tax every month. Customer B located in the Netherlands is a creator who is selling skins. He uses his L$ income to pay for his region and is not paying 21% tax every month. When the VAT tax office gets to hear they are not receiving 500 USD$ in tax from Customer B on a yearly basis (40$ VAT per month on a region x 12 months) because he uses a fake currency with tokens that have no actual value. How exactly will the tax office be ok with this? Can you explain this Linden Lab because your latest scheme seems far from transparent? @Linden Lab Why do European business customers in Second Life need to be compliant with tax laws, have accountants, pay all kinds of fees while your company suddenly comes up with these "magical hocus pocus" tax avoiding schemes where it is no longer needed to pay VAT on private regions?
  21. Count Burks
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  22. Count Burks
    Dear Resident, Available for rent is a tropical beach location on a calm residential island without any lag. This tropical beach island comes with 1250 prims to build and a size of 16384 meters with full terraforming capabilities and beautiful views on the ocean. This luxurious island location is ideal for those who are looking to have their privacy in world. This beach area is surrounded by mountain landscapes so that non of your neighbors or their builds are visible. You will be able to enjoy stunning visuals and scenery as you design your very own island. This pristine beach will provide you with a calm environment to have your home in Second Life virtual world. The island is located on the Dreamworld islands in Second Life which is a high quality group of islands founded by Count Burks Estates and providing a home for many Second Life residents for years. To visit the island do click the Teleport link: CLICK HERE TO TELEPORT You can also visit Count Burks on the Second Life Marketplace for more land parcels: VISIT MARKETPLACE The rent for the island can be paid per week or per month as you desire to the tier meter which is located in the corner of the island. The rent for this super property is extremely affordable. The tier details for this island are displayed on the land itself. When you have any questions IM Count Burks directly in world. I am looking forward to meet you in world. Count Burks Count Burks Estates - Excellent Land For A Modest Price https://www.countburks.com
  23. Count Burks
    Dear Resident, Available for rent is a large terrain that is half of a sim in size which is 32768 M². This property is located on a fast Class 8 sim that has plenty of resources available. The island will provide you with a land impact capacity of 10000 prims to build on. The surface of the terrain is 128 by 256 meters large in size. This particular property comes with unspoiled ocean front views with Sunset and Sunrise as you desire. The island is suitable for Residential usage. If you have breedable animals, you are also welcome. You can also have a custom terrain texture for your land on this particular property. You can IM Count Burks directly in world with all your questions that you might have and to speak about your particular requirements in terms of buildings and structures that you would like to place on your land. You can directly teleport to the island by clicking on the link below. CLICK HERE TO TELEPORT Do not hesitate to IM Count Burks directly in world. Count Burks Count Burks Estates - Excellent Land For A Modest Price https://www.countburks.com
  24. Count Burks
    Beautiful island available. IM Count Burks directly in world today.
  25. Count Burks
    Island available. IM Count Burks directly in world today.
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