Here you will find all the information on how to claim the prize money in any of our Frag-o-Matic tournaments. The following rules apply to all contestants and are non-negotiable.
- The recipient of the prize money is the individual person or company/association/non-profit organization that has registered for the specific tournament.
- The winner/s must be present at the Prize Ceremony.
- Competition prizes must be claimed within 30 days after the event.
- Prize money will be paid within 90 days of the end of the event.*
- All prize money is paid in EUR.
- A player with Belgian nationality will receive the full amount of the prize as a salary. They will have to report this in their tax form (income tax) according to the Belgian tax law.
- A player with a foreign nationality will receive the amount of the prize as a salary with an 18% tax reduction according to the Belgian tax law.
- Any Belgian organization with a VAT number that wins prizemoney can make an invoice for this. A 21% VAT can be calculated on top of the prizemoney amount. For any other foreign (European) organization there’s a 0% VAT calculated according to the European law (reverse charge of the VAT).
* Waiting time of 90 days may exceed if the sponsor is paying out later than planned
- The invoice shall be made out to:
Address: Prof. Scharpélaan 90, B-3130 BETEKOM, BELGIUM
- For invoices within the EU the VAT number has to be written on the invoice, if, by local tax law, no VAT number is needed this exception has to be stated clearly on the invoice. (EXAMPLE: EXEMPT FROM VAT ACCORDING TO LOCAL REGULATIONS)
- The invoice shall have a due date 90 days from the time of the end of the event.
- The invoice shall be marked with:
NAME OF TOURNAMENT STOP (I.E Frag-o-Matic 16.0)
NAME OF TOURNAMENT AND PLACEMENT (I.E. COUNTER-STRIKE GLOBAL OFFENSIVE, PLACE 2)
- The invoice shall be issued in EUR.
- The invoice shall contain bank information including IBAN & SWIFT/BIC