Thread: Neo900 - finally a successor of N900
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joerg_rw is offline joerg_rw
2014-12-22 , 12:38
Posts: 2,222 | Thanked: 12,651 times | Joined on Mar 2010 @ SOL 3
#2254
Originally Posted by joerg_rw View Post
Yes, all this is what we're pondering right now. Werner checked all other major parts for their risk status. We probably won't be able to do this whole thing in one week, but we can borrow the money from R&D funds for a while to allow this new thing to take the time it needs, while we evaluate the amount it needs in the end and we implement a proper shopping procedure to make sure this is no donation but a regular purchase.
Seems - for risk parts - regular sales from our side (purchase from your POV) introduces all sorts of VAT issues again - like "we don't ship physical goods (yet) so we need to pay German VAT like if we had shipped to Germany" (thanks to immaterial goods like software etc which otherwise we could claim they got sold to abroad even when they are not. German tax laws are a nightmare).
We already changed/'transformed' the "donations" to quite regular credits (see "fineprint *)") quite some time ago. I think it's probably the easiest most feasible path to go for the riskpart fundraiser as well.

Still pondering and evaluating our options. Comments and criticism welcome.

cheers
jOERG

*) With a little help from Google translate, so bear with me for unclear wording in english, it's not binding anyway, the german wording is legally binding though:
The lender guaranteed respecting the Neo900 UG (haftungsbeschraenkt) a loan, repayable with the appearance of the product Neo900. S/He receives 2% interest per month on the loan amount (compound interest is not recompensed). In addition, s/he is added to the wishlist **) for product manufacturing. Interest payments are excluded for parts of the loan exceeding the sale price of devices ordered by the lender, at the time of loan repayment. Applicable amounts less than 100 € are treated as donations without a right to refund, repayment or distribution of any profits.
**) "wishlist" is as good as it gets, without already establishing a sale, according to my tax advisor. No "preorder". Sorry. You know what's the intention though.

which basically means you give a credit to Neo900 UG and you will receive it back at time of purchase of your device (of course we won't transfer money back and forth, we will simply treat the credit refund as down payment for the ordered device, once you place your order. Untl then, it's a credit we owe you)
And another sidenote to avoid confusion: when you gave a 100EUR to GDC and then transferred it, Neo900 UG owes you a 100EUR. There's no issue with the 13(?)% that stayed at GDC during transfer.
[edit 2] for the risk part credit we might have to sligtly modify the applicable "fineprint" - something along the line of "refundable any time. No interest. In case of payback the lender accepts that only the part of credit not used up for component sourcing gets refunded in cash. For the remainder the lender accepts purchasing of the goods from Neo900 UG instead of cash, all applicable taxes and fees apply to such sale"
Last edited by joerg_rw; 2014-12-22 at 14:04.
 

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