Five formidable new Taxamo features

Tue Dec 6, 2016

You requested, we listened, and now we can reveal five great new features that we believe will further improve our users’ interaction with Taxamo.

Continually refining and improving our service offering is important to us and that’s why we are pleased to reveal the fruits of our recent development work.

1. New mode: allow and report contradictory evidence for transactions

In some cases a merchant may prefer that a transaction proceeds with contradictory evidence. A merchant can calibrate this preference in their Taxamo customer portal settings under Allow contradictory evidence - accept transactions with non-matching evidence.

How does this new feature work?

Now, when a merchant has enabled this setting in the portal a transaction will proceed even when no matching evidence is provided.

The merchant will also receive an alert (see image below) explaining that the transaction has insufficient evidence.

Contradictory evidence

This new feature adds a dashboard flag to transactions indicating that they do not have matching evidence.

Dashboard flag

This flag will appear on the Transactions list page, and the transaction detail will show a note that it is ‘unconfirmed’ as it does not have matching evidence.

2. Add configuration option to block certain regions/countries

Taxamo merchants can now define a list of regions/countries to block transactions.

Transactions will not be created from these blocked regions/countries if the transaction data matches the block level for the related transaction fields.

To enable ‘Country blocking’ merchants need to go to My account > Country blocking in the Taxamo Merchant Portal.

Country blocking

Merchants should use the following list to block sales to various regions and countries. In the example above we have blocked Belarus by country of payment instrument.

There are three possible levels of block that can be applied:

  • Blocked by resolved tax country: Countries which have digital VAT laws have various rules around determining whether a customer ought to be treated as being from that country for tax purposes. We apply these rules and resolve whether a customer is from a given country for tax purposes.
  • Blocked by country of payment instrument: For credit card transactions this is the country of the issuing bank of the customer’s credit card (based on the BIN number of the consumer’s credit card). For PayPal and other payment methods it is the country of the customer’s account.
  • Any single piece of evidence: Where any single piece of evidence that is picked up points to a blocked country the transaction will be blocked.

3. Create invoices for ‘B2B only’ transactions and not B2C

Merchants can now generate invoices for B2B-validated transactions only, and not for B2C transactions.

To access this new feature merchants need to navigate to My account > Invoicing in the Taxamo Merchant Portal.

At the bottom of the Invoicing tab there is an ‘Invoices for B2B transactions’ setting for both test and live mode.

Issue B2B invoices

The options are as follows:

  • Issue invoices only for B2B transactions only in TEST mode
  • Issue invoices only for B2B transactions only in LIVE mode

As a result of selecting one of these settings Taxamo will generate an invoice for B2B transactions only. Invoices will not be issued for B2C transactions.

4. Allow large batches of transaction export

Taxamo merchants now have the ability to export large batches of transaction data, such as one-year’s worth of data, or their entire history. This is a change from the previous limit of 1000 rows per transaction export via csv file or API call.

To start a list of transactions merchants should navigate to the Transaction > Export tab on the left-hand side of the Taxamo Merchant Portal.

Large batch transaction export

On choosing the information to export please be aware of the following:

  • The date range is mandatory
  • The chosen date range cannot exceed three months.
  • To export more than this just run multiple exports for not-overlapping date ranges

5. Improved refund reports

We know how important refund reports are to our merchants which is why we have provided even more information.

To access the refund report section merchants need to navigate to Refunds on the left-hand side panel of the Taxamo Merchant Portal.

There are now two options under Refunds: Summary and Detailed report. Refunds reports are exported in a .csv file format.

Taxamo provides a refund report which includes a summary of all refunds for any of the tax regions which you have enabled in your Taxamo account.

This newly-introduced report provides a list of all refunds made. It includes the following information:

  • The quarter in which the refund was made
  • Tax country
  • A note to inform you if the refund applies to your settlement report
  • Tax rate
  • Tax refund amount
  • Total refund amount
  • The transaction key

We know how important refund reports are to our merchants which is why we have provided even more information.

Large batch transaction export

The additional pieces of information in the refund reports include:

  • Sales date: the order date is now used instead of the confirm date
  • New column for the transaction key
  • New column in the .csv file format report: Refund reason.
  • The report includes information regarding refunds for all tax regions

Note: Taxamo content is created for guidance only, please consult your local tax advisor for professional advice.

Contact us to find out more about our solution