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As a farmer, be able to handle payments from users in different VAT regimes #126

Open gmachtel opened 4 years ago

gmachtel commented 4 years ago

As a farmer you get requests from users which operate in different VAT regions.

Business requirement

Assumptions

More info

A user will be invoiced for his capacity reservation, but will have to pay a VAT amount which is depending on the country he is residing (different rules apply for EU and non-EU). VAT API to be called in order to be able to determine the correct VAT for a specific country. API that appears to contain this info : VATsense Other one (the Amazon one): VAT Global

Rules to apply: EU guidance : buying and selling services

DOD

TODO [] Configuration screen for farmer to define his required TFT wallets [] Configuration stored in farmer's BCDB [] Use stored setup to give info on user capacity reservation [] Call API to get the right VAT for the right customer

robvanmieghem commented 4 years ago

@gmachtel Ok, VAT when using Fiat is simple, how do we charge Vat when paying with TFT,s ? I propose we just implement the VAT rules in TFT and leave it up to the farmer how he should declare the income in his legislation.

gmachtel commented 4 years ago

I agree to leave it up to the farmer. VAT when using TFT is no different than fiat (legal steps are ongoing to consider TFT as a payment currency). VAT is to be expressed in TFT as well, maybe additional step is indication of exchange rate with EUR or USD at moment of the transaction. From technical perspective, VAT is 'simple' but the process is not simple for a farmer as it can become quite a mess for the farmer (both in fiat and in TFT). The APIs I mentioned are probably fit for purpose to get the % (didn't check yet which one fits best), but we might need to help the farmer with different wallet address. That's what Andreas suggested.

robvanmieghem commented 4 years ago

Another option might be to just ignore it from our side and let the farmer announce it including VAT even though there might be a difference to where the client resides and if it's a corporation or not. The farmer would also have to create invoices then. Simply ignoring it technically and leave it up to the farmer might be the right thing to do before we get lost in to creating an accounting system.

gmachtel commented 4 years ago

Not sure we don't have legal obligations providing the right info on VAT to the grid user. As payment is done, there is an invoice system needed. If we don't register this on the system, the farmer has no way to send out invoices in a decent manner. I'll talk to Andreas about it. Next to that there is also income for TF Foundation (10%) and TF Tech (10% if certified capacity), also subject to VAT.

andhartl commented 4 years ago

think we need to give the farmer and user the option to get vat correct invoices for their book keeping. on noway of looking at this is that if we do not over the invoicing incl vat handling a lot of businesses - farmers and capacity users - will simple not be able to use capacity from the grid. hope this helps