Legal and taxation

All the answers to your questions

What is the real status of my financial contributions to the projects?

Whatever your status, your contribution is considered to be a donation. If needed, Project Creators can give you a note that certifies that you have contributed to their project.

Can my contributions be deducted from my taxes?

In general, no.

However, the creator of a project – and not KissKissBankBank – can give contributors notes that certify they have contributed to their project. Depending on national laws and the status of the Project Creator, that note might be used for tax returns.

If I am a company or an association, can these contributions be deducted from my taxes? Just as if you contribute as an individual, the answer is: generally, no.

However, the creator of a project – and not KissKissBankBank – can give contributors notes that certify they have contributed to their project. Depending on national laws and the status of the Project Creator, that note might be used for tax returns.

Does KissKissBankBank deliver receipts or any other certificate to the contributors of a project?

No.

Only Project Creators can deliver that documentation. It is their responsibility.

If I am a company or an association, can these contributions be deducted from my taxes?

Just as if you contribute as an individual, the answer is in general no.

However the creator of a project – and not KissKissBankBank – can provide its contributors with a certification of their contribution. According to the countries and statuses of both the creator and contributors, this certificate might be used for tax purposes.

As a project creator, how shall I declare the contributions I receive?

It depends on your country.

For sure, all revenue must be declared to taxation services. However, every country has its own categories in which the funds from a crowdfunding campaign can be included. We strongly suggest you take advice from the appropriate authorities of where the project is based.

Can KissKissBankBank be held responsible if Project Creators do not properly declare the funds they receive?

No.

KissKissBankBank always provides a bill of 8% all inclusive (commission + banking fees + VAT) validating the transfer of contributions so that the creators can declare their revenue as they should. However, our responsibility stops here.

Is there a tax system when Project Creators choose to provide goods and/or services on pre-sale as rewards?

Tax issues, on crowdfunding platforms like KissKissBankBank, and relating to projects that provide goods and/or services on pre-sale, have not yet been properly addressed by the relevant legislative authorities. In this context we invite companies interested in providing this kind of rewards to approach their accountant to approve the policy to apply for the inclusion of VAT.