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testfrequencyyesterday at 11:27 PM2 repliesview on HN

Does this mean Stripe is worth $1B?


Replies

aluminussomayesterday at 11:33 PM

Different businesses. Stripe main business is a payment processor. Brex provides credit.

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bfleschyesterday at 11:48 PM

Stripe has for years helped non-EU companies to do tax fraud in the EU, and in a just world their management would be charged.

Every time a customer in the EU pays with Stripe, they exactly know if they are a private customer or not and in which country that customer is located in. Stripe also knows who the counterparty is ("their merchant").

Yet Stripe systematically enabled their merchants to avoid paying appropriate VAT for sales to private customers in the EU. The merchants would send you a "receipt" and then go dark, no proper invoice provided and no appropriate VAT payments to the EU made.

Their merchants could write fantasy names on the invoices, Stripe would not check or correct anything. They simply ignored the whole Mini-One-Stop-Shop in terms of VAT.

That's the "benefit" of using Stripe, they had very happy merchants who didn't need to pay taxes when selling digital products to EU customers.

I had to light a very big fire under their ass for them to provide proper invoices. I have zero indication they systematically remediated the tax fraud situation and actually paid the EU the VAT that Stripe merchants owe if you'd look into Stripe's accounting.

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