Global Trade Barter Support System

Understanding Bartering and Trading

What Does Barter Mean Anyway?

Barter is simply the trading of goods or services for other goods or services. There are no rules as to what can be traded or exchanged. The best way to do this to increase commerce fairly is to always trade at the same price anyone would pay who was shopping with a credit card. We say credit card because some businesses offer a cash discount in place of paying the POS fees.

Trading with FEN:

To promote trading, and make it easier for individuals and/or companies to trade we have provided an internet-based banking system to track and to use bartering as a complimentary currency. When bartering, you never really 'buy' or 'sell', rather you always exchange items of similar value. This saves on taxes. Once you sell what you traded for, only then are items and services taxed as capital gains, should there be any. When you offer an item in exchange, you receive a credit in your barter account (Vducats) the same as if it were a sale done on a point of sale machine with a debit card. This in turn can be used to exchange for an item or service you would like to acquire from another member. You may 'bank' your barter currency for a larger purchase. Your Vducats may be spent in any quantity, the same as spending money in your bank when you use your debit card. There is no paper version. This is strictly electronic. In Ontario where we are currently based there is HST which is not applicable on a trade and there will be no income tax on the items traded unless the item sold from a vendor is traded for items for personal use. If you convert your Vducats to Canadian or US dollars or any other currency for tax purposes the money will show as income to your business. Be aware of the tax laws in your area when doing this. Close and return