Update for my EU Patrons (Patreon)

Patreon is going to be makes some upgrades when it comes to processing payments from patrons in the European Union.

Here's what they sent me:

"Dear creators,

As part of our ongoing commitment to helping you run your membership business, we collect and remit legally required VAT(Value-Added Tax) on your behalf from patrons located in the European Union (EU). We are making upgrades to confirm the country of residence patrons are located in to ensure that we are calculating taxes correctly.

As you have patrons in the EU, we wanted to let you know that as we confirm patron locations, some may see a change in the VAT added to their pledges starting October 1st. We will email those patrons in advance of any changes to let them know the correct total amount of VAT that will be applied to their pledge moving forward.

What is VAT?
VAT is a tax assessed on all goods and services that are bought and sold for use or consumption in the European Union. Patreon is required by the EU to collect this tax on any pledges from patrons in the EU and pay it on behalf of creators.

If any of your patrons have questions about VAT, you can refer them tothis article in our Help Center. Let us know if you have any questions by submitting them here.

Thanks for your time,

The Patreon Team"