Swedish ASIC miner company kncminer.com

[prophetx]

sounds like you guys should be shipping from in a non-EU country....

[FlappySocks]

EU VAT registered companies don't (shouldn't) charge VAT for exports out of the EU

[Bitcoinorama]

Failing that, take a trip to Stockholm and claim back the VAT at the airport.

If you're a single guy you want to do this. I speak from experience.

[KS]

EU VAT registered companies don't (shouldn't) charge VAT for exports out of the EU

and non-EU companies shouldn't charge VAT. Both happen though, since it's becoming ever more of a pain to prove to the taxman  that really your customers should not pay that VAT (proof of residency, proof of shipping, whatnot)

[Malawi]

So what you are saying is that a US based entity can order from this Swedish company and not pay VAT?  From what I understand it sounds like VAT is built into the price ... and getting a VAT refund sounds like a real pain...

And as far as I am aware there is no import duty in the USA for computers.   http://www.dutycalculator.com/popular-import-items/import-duty-and-taxes-for-laptop-computer/ (pick "server" from the drop down)

It's quite simple.

If a Swedish company sells a product from sweden and the buyer is in EU, they charge VAT(In EU you pay the VAT in the country you order from, so a german customer does not have to think about the VAT/customs).
-As long as a certain percentage of their sales includes VAT, the Swedish company can deduct any VAT they pay to other firm towards their VAT bill to the taxman.

If the product is is headed for a country outside the EU, the VAT is simply not levied, and it's the receiver's responsibility to pay VAT/sales tax etc. Normally after some red-tape.

Pretty sure the VAT in Sweden is 25% - remember that when you detract it from a price with VAT included, you deduct 20% (A little brain teaser if you are not familiar with how VAT works)

BTW: Sales tax is a bit like VAT, but have to be paid by every entity in the supply chain, thus it is a lot lower, but it quickly adds up. Sales tax is levied from -raw materials-sub contractors-producer-central distributer-local distributer-retailer(every time an item changes owner). VAT is only paid by end user as all the others get VAT returns.

[Schrankwand]

Basically, be a business, guys.

For example: If I, as a german company, send you an invoice, i can officially write "not taxable due to regulation §XYZ" if you are a company.

VAT exemption for many countries does only work, as long as they are not private people. That means as a business, I am only allowed to not charge VAT if I am dealing with another company that handles their taxes as reverse charge, meaning the buyer does have to pay the taxes in HIS country.

[Malawi]

EU VAT registered companies don't (shouldn't) charge VAT for exports out of the EU

and non-EU companies shouldn't charge VAT. Both happen though, since it's becoming ever more of a pain to prove to the taxman  that really your customers should not pay that VAT (proof of residency, proof of shipping, whatnot)

It's really not that hard. If a parcel leaves the EU, there is no VAT. If a customer is from outside EU, they just need to confirm that they are taking the unused product out of EU at the border.

BTW: I am from Norway, and due to tax-regulations I can buy stuff in the EU for up to about $1000, claim VAT refund and not pay VAT in Norway (Only works when I travel, not for parcels).

[FlappySocks]

If a Swedish company sells a product from sweden and the buyer is in EU, they charge VAT(In EU you pay the VAT in the country you order from, so a german customer does not have to think about the VAT/customs).

If you are VAT registered in the EU but outside Sweden, then you can ask to have the VAT removed.

[chaxattack]

Was the 'Order Tracking' module on the homepage there this whole time or is that new?

[dhenson]

I think it's always been there... not 100% though.

[KS]

EU VAT registered companies don't (shouldn't) charge VAT for exports out of the EU

and non-EU companies shouldn't charge VAT. Both happen though, since it's becoming ever more of a pain to prove to the taxman  that really your customers should not pay that VAT (proof of residency, proof of shipping, whatnot)

It's really not that hard. If a parcel leaves the EU, there is no VAT. If a customer is from outside EU, they just need to confirm that they are taking the unused product out of EU at the border.

BTW: I am from Norway, and due to tax-regulations I can buy stuff in the EU for up to about $1000, claim VAT refund and not pay VAT in Norway (Only works when I travel, not for parcels).

Of course it's not hard, but there are ignorant/lazy/dishonest ppl out there that simply add the VAT and make you pay (even if they are not VAT registered themselves), no matter what. Happened to me more than once, when I really need the product ASAP, I just factor in the VAT in the cost and buy or not depending on who's cheaper. Usually I don't go back to these "suppliers" and try to find official sources but the EU is a pain to source products in if you want to buy sth that's not in the localization of the country you're in (bloody distribution agreements - free circulation of goods and services is a joke).

 Most PITA countries for me are Italy and now Germany (Germany used to be great!). Sometimes I just buy straight from Amazon who happens to be cheaper than my local distributors/wholesalers and I don't have to worry about the VAT issue.

[dan99]

Kncminer is already late in  producing the miner, they will blame on the VAT and other excuses .. and will
asked everyone to have the miner hosted in their office or store and they will charge an arm and a leg for all the fees and utility. Look like it is coming this way, are you sure Sweden has the cheapest electricity rate in the world? Sweden: 0.20092Euro per kWH while other countries is 0.05 to 0.07USD per kWH.

[KS]

Kncminer is already late in  producing the miner, they will blame on the VAT and other excuses .. and will
asked everyone to have the miner hosted in their office or store and they will charge an arm and a leg for all the fees and utility. Look like it is coming this way, are you sure Sweden has the cheapest electricity rate in the world? Sweden: 0.20092Euro per kWH while other countries is 0.05 to 0.07USD per kWH.

wot wot? I pay 0.085 EUR/KWh in a Tier III datacenter. Why would I want to pay 2.5x in Sweden? Ship it to Dallas or sth and get unmetered power, or Seattle and pay 0.02 USD... (oh, and no VAT in the US )

[Bitcoinorama]

Ok, stop this;

1. You're making assumptions about whether VAT costs and electricity costs will be an issue based on no evidence, when VAT exemption for sellers outside the EU is the law. it's why Europe attracts so many tourists from outside the EU on shopping holidays, ref: every Spring, Summer, Autumn and Winter sale in London's West End full of US and Asian women going nuts with their plastic. I spoke to Sam about 'electricity waster and storage', they have a novel solution which I will let them reveal, but not sure what that price point will be so not worth discussing as it's unfounded.

2. Both the order tracking feature and importantly the VOTE for the LITECOIN miner function are new.

Definitively vote for the Litecoin miner, as the 6 gh/s FPGA 'Mars' makes a lot more sense profitably in the long term as an FPGA with DDR specifically for Litecoin mining and justifies the price tag.

Remember aside from more power, there will also be less competition for the foreseeable future from other competiting miners in the Litecoin arena, it spreads the risk between two cryptocurrencies with their ASIC being for Bitcoin, and very, very importantly; last week Mt Gox confirmed in a press release concerningn their recent DDOS attacks that they are just about to except Litecoin on their exchange = increased liquidity.

• When will you be adding Litecoin (LTC) to Mt. Gox?
  
  Soon. We were planning on doing so two weeks ago, but events derailed that plan. Right now we are focused on overall stability of the exchange, and will launch LTC when we are ready. Otherwise we could be further complicating things.
  

No brainer, goto: https://www.kncminer.com/ and vote;

"Yes, I would be very interested", and let's make this happen please!

[Brandt]

No brainer, goto: https://www.kncminer.com/ and vote;

"Yes, I would be very interested", and let's make this happen please!

It would indeed be nice if KNC could be at the forefront of new mining devices for currencies such as LTC.

This makes it more interesting for me atleast.

[Bitcoinorama]

No brainer, goto: https://www.kncminer.com/ and vote;

"Yes, I would be very interested", and let's make this happen please!

It would indeed be nice if KNC could be at the forefront of new mining devices for currencies such as LTC.

This makes it more interesting for me atleast.

Vote then!! Gotta be in it, to win it!!!

[KS]

No brainer, goto: https://www.kncminer.com/ and vote;

"Yes, I would be very interested", and let's make this happen please!

It would indeed be nice if KNC could be at the forefront of new mining devices for currencies such as LTC.

This makes it more interesting for me atleast.

Vote then!! Gotta be in it, to win it!!!

U sure you're not in on this? I find your interest in the topic veeery suspicous! Mr Cole from KnC(ole)miner!

[Bitcoinorama]

Nope, check my posting history. I'm very blunt when calling out bs. Just trying to justify a 6gh/s FPGA miner which they said they can make now whilst we wait for the monster ASIC. The Mars -> Jupiter deal is sound, but needs tweaking to be a little more effective with the FPGA investment. If they have ORSoC on board and are closet geeks as they claim, then they can nail this. An FPGA for Bitcoin has a very finite lifespan, for litecoin it's considerably longer term = more profit, plus benefits Litecoin with greater security. Litecoin is the second most liquid cryptocurrency to Bitcoin and the second most popular. The fact that Litecoin is imminently about to list on Mt Gox's exchange (the largest and most frequented by a long way as you know) makes it easier than ever to sell, buy or trade Litecoins for Bitcoin if you want to, or remain diversified and spread risk if you don't. It's a no brainer, I strongly believe in cryptocurrencies, but I definitely want to see the best return on my investment in the shortest time and over the longest period and have been busy trying to persuade them to consider this, which they said they would 'seriously contemplate' and clearly have!  

It's a muuuch better strategy than the other current ASIC developers.

Why would you doubt that? It's entirely logical...!!

Got a better idea?


--
Though def still no payment without working verified prototypes, not after seeing so many burnt here. Plus payment by Paypal, they've agreed to that.

[KS]

Nope, check my posting history. I'm very blunt when calling out bs. Just trying to justify a 6gh/s FPGA miner which they said they can make now whilst we wait for the monster ASIC. The Mars -> Jupiter deal is sound, but needs tweaking to be a little more effective with the FPGA investment. If they have ORSoC on board and are closet geeks as they claim, then they can nail this. An FPGA for Bitcoin has a very finite lifespan, for litecoin it's considerably longer term = more profit, plus benefits Litecoin with greater security. Litecoin is the second most liquid cryptocurrency to Bitcoin and the second most popular. The fact that Litecoin is imminently about to list on Mt Gox's exchange (the largest and most frequented by a long way as you know) makes it easier than ever to sell, buy or trade Litecoins for Bitcoin if you want to, or remain diversified and spread risk if you don't. It's a no brainer, I strongly believe in cryptocurrencies, but I definitely want to see the best return on my investment in the shortest time and over the longest period and have been busy trying to persuade them to consider this, which they said they would 'seriously contemplate' and clearly have!  

It's a muuuch better strategy than the other current ASIC developers.

Why would you doubt that? It's entirely logical...!!

Got a better idea?

Your posting history from the 23rd of April? 5 full days after the alleged partnership and you're bashing every other project?

But I have a secret plan. I'm making £22.000 chocolate coins with which I'm buying batch 2 Avalons. Mwuahahaha!

j/k mate. I'll be waiting to see samples before I commit 7K to a 250GH/s machine. Too many scammers on this board and too many ppl with too much money.

[Mats8500]

I don't think I've seen anything regarding that, anyone know if they addressed the request to make the FPGA miner an LTC miner?

If they think they can do it, that actually sounds awesome. Even if that adds up a bit of delay.