Dec 24, 2014
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 full service reporting suite enables businesses to comply with new EU VAT rules by integrating with existing payment systems to:
✓ Identify EU and Non-EU transactions
✓ Collect customer location evidence per transaction
✓ Validate B2B transactions
✓ Calculate VAT for 28 EU States, in real-time
✓ Store customer location evidence.
✓ Calculates ongoing VAT liability.
✓ Create quarterly EU MOSS returns.
✓ Create audit files for EU tax authorities.
✓ Securely archives data for 10 years, as mandated.
Braintree powers billions of dollars in mobile and online payments for some of the world’s fastest growing companies and most reputable businesses, such as Uber, OpenTable, Airbnb and GitHub, among others.
The new 2015 EU VAT rules require businesses with B2C (business-to-customer) sales of digital goods and services in Europe, to identify where their end customer is located by collecting two pieces of non-conflicting evidence and then applying the correct VAT rate.
‘We are thrilled that Braintree selected Taxamo as their partner of choice for EU VAT compliance’, said John McCarthy CEO of Taxamo, ‘The changes to the EU VAT rules in 2015 on digital services will have a significant impact on Braintree’s merchant base, many of which are some of the most exciting new digital companies around.’
‘Consistent with Braintree’s dedication to our merchant’s success, the partnership with Taxamo will enable Braintree businesses to achieve EU VAT compliance in a simple way without having to develop their own solution.’
Simple, powerful payments. Built for what’s now. Ready for what’s next. Braintree powers billions of dollars in mobile and online payments for some of the world’s fastest growing companies and most reputable businesses. Built by developers for developers, our full-stack payments platform can be integrated in minutes and gives you easy access to new payment options and advanced features as they come on stream.
Taxamo content is created for guidance only, please consult your local tax advisor.