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Trade Dollars with other startups. Book it as revenue

revswap.ai

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Re: Trade Dollars with other startups. Book it as revenue

#14
post #8

I find this amusing: I'm from Poland, where after the VAT tax was introduced in the 1990s, there were famous "VAT carousel" crimes, with people ending up in prison. The basic idea was similar, except you also collected VAT refunds from the state. If you search for "vat carousel" today, it seems this is still a thing.

VAT carousel is fraud. This is pre-legal.

Re: Trade Dollars with other startups. Book it as revenue

#20
post #16

Isn't this highly illegal, and worst of all: this is cheating taxes ... Let's just say if you really want to commit crimes, don't start with challenging the IRS. Just don't. There's so many horror stories about that.

As the FAQ suggests, it's "pre-legal".

But it's all for mocking the current market... so.

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