Vertex has introduced Taxamo Assure, an application designed to make sure sales are compliant with value-added tax calculations and reporting obligations for parcels worth less than 150 euros. The VAT regulations for the European Union went into effect for ecommerce transactions on July 1.According to Vertex, these “impose additional compliance burdens and increased complexity with changes to rates, thresholds and remittance processes for all merchants remotely selling into the EU”. A pay-as-you-go product, Assure pays a per-parcel fee and Vertex tax care of all VAT obligations, controlling the real-time VAT calculation and invoicing on a merchant’s covered sales to the EU. All transaction details are tracked and the software files and remits the VAT due while the merchant processes sales. Assure supports integration with a merchant’s existing ecommerce sales process via both direct APIs and ecommerce plugins.
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