Ian Posted October 23, 2002 Share Posted October 23, 2002 I'm putting this together and hopefully others will be able to add some info as well. United Kingdom. Gift Vouchers are not subject to VAT on purchase. On redemption the full amount of VAT on the goods purchased using a Gift Voucher must be accounted for. Discount Coupons. The amount of VAT charged is based on the net purchase price less the dicount amount. Not sure about mixed rate purchases. United States. Suprisingly, the same as the UK for both Gift Vouchers and Discount coupons. At the moment my Gift Vouchers do not have expiry dates although I will be adding that feature. First some states do not allow expiry dates, notably California. Those states that do allow expiry dates will most likely have what are called escheat laws. This means that if someone buys a gift voucher from you and does not use it, on expiry, you must pay the value of the gift voucher to the state. Any one want to contribute laws for other countries. Trust me, I'm an Accountant. Link to comment Share on other sites More sharing options...
New 
Recommended Posts
Archived
This topic is now archived and is closed to further replies.