Taxamo Assure

Taxamo is revolutionizing tax management for businesses selling online across the globe. Our solutions cover VAT, GST, and US sales tax, and are tailored to individual business needs. Since launch in 2010, we’ve managed billions of transactions globally.

This is an extension for Taxamo Assure. Taxamo Assure is an on demand VAT service designed to support importation of low value goods into the EU. Taxamo Assure will be liable for VAT on IOSS sales, which removes the need for you to register, file, and remit VAT under Import One Stop Shop (IOSS). The IOSS scheme is effective across the EU from the 1st July 2021.

What do the changes from July 1st, 2021 mean for your business? 

• Items imported into the EU with a value of €22 or less will no longer be relieved from VAT
• All goods sold or sent from a business outside the EU and delivered to a customer in an EU country will be liable for VAT
• The VAT amount applicable is subject to the local rate of VAT of the customer's delivery country. 
• The IOSS scheme applies to consignments up to €150

Account and Pricing:

An additional Taxamo account is required, and fees apply. The account is not created during extension installation. To create an Account please visit the product page and you can select the Sign-up button. You can create a sandbox account initially for testing and then a production account when you are ready to go live.

Features:

Taxamo Assure integrates into your customer checkout journey and controls the real-time VAT calculation, invoicing and VAT number validation on applicable sales. As you process sales, these transaction details are tracked and Taxamo Assure takes responsibility to file and remit the VAT due where Taxamo has the tax liability.

• Seamless integration with your checkout 
  • The extension connects to the Taxamo API’s for sales and refunds.
• Real-time VAT calculation
  • Calculates VAT due per line item at point of sale. This is on the checkout and not on the product pages. 
  • Universal and dynamic pricing is supported (whether you load your products with tax inclusive pricing or tax exclusive pricing) 
• Filing and remittance
  • Taxamo use their IOSS number for filing and remittance of VAT due for sales where Taxamo has the VAT liability.
• Business-to-business transaction validation
  • Automatic validation of VAT number for sales to business customers.
• Invoicing
  • Invoice generation and customisation. Taxamo will create a VAT invoice for the buyer where Taxamo has the VAT liability. 
• On-demand VAT report
  • Instant reporting on VAT position through the Taxamo Dashboard
• Automated settlement
  • Automatic reconciliation of VAT and parcel commission against your credit card. The VAT due and fee is charged to your credit card

Use Case:

You are a seller based outside the EU. You import low value goods into the EU for sale to B2C customers. You do not wish to register for VAT via an intermediary for IOSS. By using Taxamo Assure, you will use Taxamo's IOSS number and Taxamo will be responsible for the VAT for the sales under IOSS. Taxamo will be responsible for filing the IOSS return each month. You will provide Taxamo's IOSS number to your parcel carrier for the relevant IOSS sales.

Frequently Asked Questions:

Please find more information under frequently asked questions.