From the Inside Out : a VR Startup from Cambridge, UK Nizar Romdan CEO & Co-founder [email protected] White Nights, Moscow 11 th October 2016
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From the Inside Out : a VR Startup from Cambridge, UK!
Nizar Romdan!
CEO & Co-founder!
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White Nights, Moscow!
11th October 2016!
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About me … Nizar Romdan ... VR Entrepreneur!
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Virtual Arts – VR startup in Cambridge, UK!
And Also … ARM Veteran for 10 Years!!
Worldwide Director of Ecosystem!
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Non-exec Director at TIGA!
The British Game Developers Association!
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Briefing paper: Mini one stop shop With the advent of modern technology and the internet, it has become necessary to amend the rules for taxing the supply of telecommunications, broadcasting and electronically supplied services (TBES). On 1 January 2015, the 'place of supply' of such services will change to the country where the 'consumer' is established. Suppliers will either need to register for VAT in every Member State where TBES supplies are made or make use of an EU-wide accounting system known as the 'mini one stop shop'.
What's the issue? The 'place of supply' rules – which determine the
jurisdiction within which a supply of goods or services
takes place and thus the Member State entitled to collect
the VAT due on the supply – are about to undergo
something of a revolution. On 1 January 2015, the rules
which determine the place of supply of TBES services
supplied to consumers (B2C supplies) are to change.
Under current rules, the place of supply is determined as
being in the country where the supplier belongs, has a
business establishment or usually resides. However, for
B2C supplies, from 1 January 2015, the place of supply
will be the Member State of the consumer.
The main consequence of this change is that VAT will
be due in each of the Member States in which TBES
supplies are made. Suppliers therefore have a choice.
Either they can register for VAT in each Member State
(up to 27 separate VAT registrations) or, they can elect to
register under an EU-wide scheme known as the mini
one stop shop (MOSS).
MOSS registration In actual fact, from 1 January 2015, there will be two
separate MOSS schemes. One for non-EU based
suppliers and one for EU based suppliers. The Non-EU
scheme replaces the current VAT on Electronic Services
(VoES) scheme.
Registration for both schemes will be available in the
United Kingdom from 1 October 2014. However,
registration under the MOSS scheme is voluntary.
Suppliers which choose not to register under MOSS will
be required to register for VAT in any Member State
where they make a supply of TBES services to
consumers. There is no de-minimis turnover threshold
so, for suppliers preferring not to register under MOSS,
they will be required to register for VAT in a Member
State irrespective of the value of such sales in that state.
Where suppliers have a business establishment in a
Member State, they cannot use the MOSS scheme to
account for VAT on supplies in that state. They will be
required to account for VAT there using a 'local' VAT
registration.
UK VAT groups According to guidance published by HMRC, a UK VAT
group will be entitled to register under the MOSS
scheme. As a VAT group operates as a single taxable
person under a single VAT number, supplies of TBES
services on a B2C basis made by members of a VAT
group will be regarded as made by the group's
representative member. However, the law relating to
VAT groups is different in each Member State.
Businesses with group registrations outside the UK will
need to check the particular rules in the countries where a
MOSS return is to be filed.
Small businesses To register under the MOSS scheme, a business will have
to be registered for VAT. UK businesses trading below
the current VAT registration threshold (£81,000) will not,
therefore be able to use the MOSS scheme. Instead, they
will have to register for VAT in their customer's country
and account for VAT on sales through a local VAT
return.
We understand that HMRC is aware of this anomaly
and has brought it to the attention of the EU
Commission. Unfortunately, the Commission simply
points to the fact that the UK has a very high turnover
threshold compared to other Member States and is not
inclined to alter the MOSS rules. Small business could
choose to voluntarily register for UK VAT but this is
likely to have an impact either on prices charged to
customers or on profitability.
In collaboration with
Full Immersion into !
Virtual Worlds!!
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The Feeling of Being There! !
VR is not New! … There was a push in the 90s!
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But it was too early!
Virtuality!
Sega VR!
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Then Came the Well in the Market!
Oculus Rift in 2012 in 2016!
VR is the Next Big Thing!!
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Alongside Augmented !
and Mixed Reality!
VR Revenue Forecast in 2020!
Time to Invest Big in VR!!
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Our Strategy is to Focus on!
Mobile VR & AR !
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Samsung GearVR!
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Not forgetting!
Google Cardboard!
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Making it!
Mass!
Market!
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Google Daydream Looks Promising!!
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China has big players!!
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Nibiru!
VR Install Base Forecast!
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2020 Opportunity in Mobile Computing
Mid-Range Smartphone
Entry-Level Smartphones
Premium Smartphone
650m devices in 2020
450m devices in 2020
1,000m devices in 2020
Laptops and 2-in-1s
250m devices in 2020
Tablets
450m devices in 2020
Source: Gartner and ARM estimates
Mobile Market Getting Even Bigger by 2020!
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Education TV/Film Advertising!
Exploring Various VR use cases!
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Games Experiences Training!
VR is Hard! … Lots of Technical Challenges!
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