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.
Killorglin, Ireland – Taxamo, market leader in the provision of digital tax solutions introduces Taxamo Assure: a new service removing the VAT/GST burden for digital businesses.
The global economy is forecast to be worth over $98tn by 2020 and research from Accenture has indicated that the digital economy will make up over $24tn of this. Tax authorities around the world are waking up to the potential black hole in VAT receipts this represents by introducing rules to tax cross border digital sales.
New service means digital businesses can retain their existing payment service provider and also meet global VAT liabilities Digital sellers rejoice: you can now retain your existing payments provider while also meeting your global VAT liabilities.
Taxamo have made this possible by developing our new service: Assure.
From our peerless experience in providing digital tax solutions to businesses operating worldwide we have learned that something is missing in the digital payments model.
Fittingly, on the 30th anniversary of its goods and services tax (GST) system introduction, New Zealand continues its taxation evolution by extending GST to remote digital service supplies. Taxamo, of course, will support this extension when introduced on October 1, 2016.
In October 1986, when New Zealand introduced GST, there was no digital economy. Now, 30 years on, New Zealand will become one of the first tax jurisdictions to implement a ground-breaking Organisation for Economic Co-operation and Development (OECD) recommendation on how to tax the digital economy.
Compliance with international tax regimes can be a mountain to climb for merchants that’s why we continue to expand and today can unveil our Swiss VAT support. Swiss VAT support: the key element to digital sales Since January 1, 2010, the Swiss Federal Tax Authority (FTA) has levied a value added tax (VAT) on the supply of services from non-resident companies to Swiss residents.
Article 10 of the Swiss VAT Act states that VAT is applied to a service supplied from “any person who carries on a business based abroad that supplies telecommunication or electronic services on Swiss territory to recipients who are not liable to the tax”.
South Korea has long been admired as a digital economy visionary so it’s with great pleasure that we reveal our support for South Korean VAT compliance.
We understand that South Korea is a key marketplace for digital service merchants and compliance with the local tax laws is non-negotiable. Now, with Taxamo, merchants can achieve this compliance without major upheaval to their existing strategies and systems.
We have distilled our international digital tax compliance solution into one simple integration.
We have been working hard on improving Taxamo and today we are proud to announce five fantastic new features.
These features take into account the fluid nature of the digital economy – as our merchants grow so too does our market-leading international digital tax compliance solution.
1. Invoicing templates and credit notes First off, we are thrilled to announce a series of updates to our popular invoicing offering.
Standing still in the rapidly evolving world of digital taxation was never an option for us here at Taxamo.
That is why we have improved our market-leading digital tax compliance solution. Here are the recent updates to the Taxamo digital tax compliance solution:
1. Product-specific checkout form We know the checkout form is a crucial element of online business. It is, typically, the final frontier between online window shoppers and that priceless customer.
Norway VOES has been a resounding success since introduced in July 2011, with over €266.5m raised Taxamo is delighted to announce that support for the Norway VOES (VAT on eServices) system has been added to our growing list of countries supported for digital service sales.
Norway has been a pioneer in the digital taxation sphere introducing such legislation as far back as July 1, 2011, when the Norway VOES system was first unveiled.
We are proud to announce that we have released yet another powerful feature for Taxamo – Webhooks, with an optional Zapier integration.
Taking best practice in API design, Taxamo now allows merchant software to subscribe to events and notifications related to transactions processed by Taxamo. This gives Taxamo customers unparalleled flexibility in how they, and the services they use, interface with Taxamo.
To help clients easily make full use of Taxamo’s APIs, Taxamo has also integrated into Zapier.
As of today Taxamo provides support for merchants seeking to comply with the South Africa digital VAT system.
The South African Revenue Service (SARS) was one of the international pioneers in changing the approach to taxing digital services. On June 1, 2014, non-resident suppliers of certain “electronic services” to South African residents (or if payment originates from South Africa) are required to register for VAT.
All the key details of the South African VAT system are contained in the ‘Registration Guide for Foreign Suppliers of Electronic Services’ , we have also compiled a useful list of FAQs on the topic.
Digital tax compliance solution for domestic and international VAT on e-services.
Global digital tax solution provider Taxamo, has further expanded its offering to digital service merchants by releasing support for both domestic and international South African VAT. Support for South Africa follows recent announcements by Taxamo to expand support for digital service merchants, wherever they sell. Taxamo’s solution already supports EU VAT in 28 European Union Member States, U.S. Sales & Use Tax, and Japanese Consumption Tax.
New product features offer a single integration for international digital tax compliance. Co. Kerry, Ireland: October 7, 2015 – Delivering on its promise to support digital merchants wherever they sell, Taxamo, a global digital tax solution, has expanded its flagship support for EU VAT and launched support for U.S. Sales Tax & Japanese Consumption Tax (JCT).
Tax on digital sales was introduced in some U.S. States as far back as 2003 and on October 1, 2015, Japan became the 36th country to introduce new ‘place of supply’ tax rules.
As eCommerce has grown in popularity with consumers so too have international digital tax laws with legislators. It is for this reason that the Taxamo service continues to expand.
By the end of 2015 36 countries had introduced new ‘place of supply’ tax rules on digital service sales or ‘digital downloads’.
Japan became the 36th country to do so on October 1, 2015. Already 49 multinational digital service companies have registered for Japan’s new consumption tax.
This week New Zealand became the latest tax jurisdiction to reveal digital sales tax plans with a new 15% online GST on digital services.
NZ Prime Minister John Key pointed out that up to a dozen jurisdictions worldwide already have systems in place “that work” regarding the taxation of digital services such as the download of images, music, and films.
In this blog we take a look at the some of the features that Taxamo has developed as a result of expanding digital taxation rules and why just this week Taxamo was chosen by Silicon Republic as one of the top 30 Irish start-ups in the Fintech space.
Content delivery technology relies on top performing, scalable tax solution.* Internet technology company, BitTorrent who create advanced, innovative technologies to efficiently move large files across the Internet, have selected Taxamoâ€™s SaaS-based EU VAT solution to process digital tax compliance with new EU VAT rules on the sale of e-services and digital goods.
More than 170 million people use BitTorrent products every month and its protocols move as much as 40% of the worldâ€™s Internet traffic on a daily basis.
Taxamo is going global. Our digital tax solution is now needed worldwide – in Q1 2015 Taxamo’s digital merchants had sales in 108 countries – so the natural next step for us was to expand the number of jurisdictions which our solution supports.
Over the coming year Taxamo will be rolling out our service for tax management on digital goods and services to multiple new jurisdictions.
This new expanded offering follows our flagship EU VAT solution that handles all aspects of consumer location detection and tax reporting on digital sales in line with new EU regulations.
Compliance with EU VAT regulations just became a whole lot easier. Taxamo have launched a new feature that enables merchants to retrospectively import historical transaction data to their Taxamo account.
In other words, if you weren’t ready by Jan 1, you can catch up!
What is this new feature? We make the reporting process easier and smoother for online merchants, allowing you to upload your historical transaction data via a custom CSV file.
Our new electronic invoicing feature is now available for Taxamo account-holders.
We recognise the fact that electronic invoicing is a critical component for every online merchant’s business model. Now, thanks to our optional new feature, we can provide our account-holders with considerable peace of mind when it comes to sending payment receipt invoices for confirmed transactions to their own customers.
Online merchants supplying customers in the EU are (since the introduction of the new rules on January 1, 2015) required to comply with the VAT invoicing rules (overview here) of the Member State where the supply is made.
Payment interruptions are not acceptable. Customers don’t need an excuse to abandon their shopping cart, so don’t give them one.
Take a tour of our dashboard!
Taxamo have created an EU VAT compliance solution that operates in real-time mirroring the customer journey. A Taxamo account holder can rest easy, safe in the knowledge that they comply with the new EU VAT rules on the cross-border supply of digital services.
Simple, powerful solution covers transactions from Braintree and PayPal for 2015 EU VAT.
December 24, 2014 – Dublin, Ireland – Braintree, a PayPal company, today announced that they have selected Taxamo to provide customers with a comprehensive technical solution to process the requirements of the 2015 EU VAT rules.
As a result of this partnership, Taxamo’s EU VAT compliance solution will be offered to Braintree clients in an integration that will cover transactions from both Braintree and PayPal via Braintree.
Taxamo’s integration with WooCommerce enables full compliance with 2015 EU VAT rules for digital sellers. WooCommerce, the world’s most popular e-commerce platform, today announced an integration with global digital tax experts, Taxamo. Taxamo offer an end-to-end solution for compliance with new 2015 EU VAT rules on the sale of e-services and digital goods.
The integrated WooCommerce Taxamo plugin enables any e-commerce business to quickly adjust their website to enable full compliance by allowing them to:
** We didn’t make the the rules but we do have a solution to solve the headaches created by the new 2015 EU Digital VAT rules. **
Time is running out for digital service suppliers to put in place a system that will enable compliance with the 2015 EU Digital VAT rules. Taxamo solves all the complex administration headaches faced by these merchants. Photo: Pixabay
We’re pro-business (our company legacy is one of entrepreneurship over 30 years in the payment and technology space) so it has genuinely pained us to see that many digital services suppliers are contemplating a restriction of their online offerings.