Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Straight barter undermines tax takes.

The WIR/Bartercard style complementary currencies consist of barter plus bilateral "Peer to Peer" credit, and what they are is actually an accounting system, plus a fiat currency "look alike" pricing reference.

ie as a WIR member you don't exchange goods and services FOR Swiss Francs, you exchange them BY REFERENCE TO Swiss Francs while creating and discharging credit obligations.

And you must account to the tax man from both sets of books.....

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Sun Mar 22nd, 2009 at 11:33:26 AM EST
[ Parent ]
My brother has a front end alignment and chassis business in Tucson.  He does quite a lot of his business through BX, a business exchange.  He will align and balance the tires for a used car dealer or a resturanter and accept payment in BX credits that he uses to pay for anything other BX participating companies offer.  This includes meals in resturants, used cars, hotel rooms, etc., etc.  BX participants do pay sales tax on their transactions, but at about one half of the nominal value of said goods or services.  How they worked that out I do not know, but he has been doing this for years.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun Mar 22nd, 2009 at 04:15:55 PM EST
[ Parent ]


Occasional Series