Changes Due to New EU VAT Regulations
On January 1st 2015, the EU introduced new legislation that changed the way VAT is charged on digital products. In a nutshell, suppliers of digital products to customers in the EU must now charge VAT at the rate of the EU member state to which the customer belongs. Complying with the new regulations is tough, and many small independent stores have already closed down as a result of the changes.
We are delighted to announce that we now handle all of the complexities of the new regulations ourselves, which means that our creators can continue to sell assets as normal. Earnings from sales remain the same and no paperwork is required, which means that you can focus on doing what you do best – creating incredible assets for the gamedev community! While many online marketplaces have been quick to place this new liability on their creators, we have worked around the clock to develop our system to handle the complexities for our sellers. We believe that our compliance with the new EU VAT regulations demonstrates our commitment to creating the simplest, fairest platform to connect skilled asset creators with indie game developers.
It is important to note that the new regulations will result in some changes to how you purchase assets on the marketplace if you are located in the EU.
|I’m a buyer living in the UK or outside of the EU||I’m a buyer living within the EU but not in the UK|
|You will not be affected by these changes. The amount you for pay for assets will remain the same.||You will be charged VAT on all purchases at the rate applicable in your Country of Residence. For example, if you are located in Germany and you purchase a $5 asset, VAT of 19% will be added to your order, so the total purchase price will be $5.95. You can find out the VAT rate in your own country here. Rest assured that the full price of your order will always be made clear before completing your purchase.|
Please note that your Country of Residence on our website must match the country of your billing address, or you will not be able to make purchases.
As always, you may be liable to pay tax on earnings from our marketplace, and we encourage you to seek professional advice if you have any questions about your own tax liabilities.