Vertex announced its Taxamo Assure by Vertex solution that facilitates and enhances the successful completion of online sales by eCommerce sellers.
The Assure solution enables such sellers to ensure that their covered sales are in full compliance with the complex process of value-added tax calculation and reporting obligations for parcels worth €150 or less, as new VAT rules for eCommerce transactions to the EU went into effect July 1, 2021.
The new EU VAT regulations impose additional compliance burdens and increased complexity with changes to rates, thresholds and remittance processes for all merchants remotely selling into the EU. Assure offers a complete solution for the merchant to meet their obligations under the new rules in the form of an innovative pay-as-you-go product. The solution seamlessly integrates into the checkout journey and controls the real-time VAT calculation and invoicing on a merchant’s covered sales to the EU.
“Our Taxamo Assure product delivers sellers an end-to-end, turn-key solution that automates real-time VAT calculations and reporting obligations,” said Vertex President of eCommerce John McCarthy. “The solution simplifies the entire process for merchants who are not equipped to handle remote seller obligations and prefer to focus on higher-value activities.”