Quote:
Originally Posted by thewitt
Here's the actual email. I still need to read about the implementation details.
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On January 1, 2015, value-added tax (VAT) rates for electronic books will change in most EU territories. VAT will be based on the customer’s country of residence instead of being the same across all EU territories.
Note that prices for books on iBooks include VAT, while the publisher’s proceeds are calculated after VAT is deducted. As a result, your proceeds for some book sales in the EU may change.
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So it doesn't say, as you said earlier, that income will fall; it says that it will change. It may fall or it may rise, depending which country the buyer is in.