Tel 1 978 287 4855
auction(at)it-careernet.com
PRINCIPLE TERMS & CONDITIONS
[Under review:
New EU VAT Regulation that came into effect July 1, 2003.
The background for the new feature is a new European Union regulation that levies VAT on electronic products and services from non-EU countries sold to private customers inside the EU.
Sellers located within the EU, as well as sales to EU corporate customers (regardless of the location of the seller) are NOT affected by the new regulation; everything remains as before.
Each seller must register in one country within the European Union. The VAT rate is determined on an individual order basis and is calculated at the VAT rate of the purchaser's local country. All tax collected is to be remitted to the country where the seller is registered.
Whether and how effectively the European Union will be able to assert this regulation outside the European Union remains an open question.
For more information about this new regulation, please visit European Commission Taxation and Customs Union Directorate General
Please note that this is merely an explanation of the EU guidelines. These
guidelines must be signed into national law by the 15 EU countries.
As a safeguard for buyers, ITC has partnered with escrow.com to hold their fees in escrow until the project is completed by the seller and signed off by buyers.
If the parties alternatively
chose ITC as a trustee and the buyer is not satisfied with the seller's
work, then the seller shall also agree that ITC shall either return the
buyer its money or pay the seller, depending on the decision of an official
arbitration body.
