If your business is providing goods and services in the international market, maintaining global VAT compliance becomes tricky. Doing a VAT submission or using VAT return services is complicated when each country has its own specific rules and regulations regarding tax.

VAT Explained

Staying VAT compliant is complex

When registering for VAT, you obtain a VAT number in that specific country that you applied for VAT. Then, the business is required to file periodic VAT/GST returns. This can easily become a time-consuming & troublesome task as each state requires the disclosure of different information and often the reporting formats for VAT/GST differ from country to country. Furthermore, failing to do so in time often results in penalties for the business. That is why international companies providing goods to a great number of countries often struggle to run their businesses in accordance with the global VAT compliance rules.

Notably, VAT return services and the VAT submission rules & periods vary in many countries, too. Depending on the region and the state, summarized VAT/GST transactions of the specific tax period need to be reported to the local Tax Authorities at different times. This has to be done either on a monthly, quarterly, or semi-annual basis. You also have to continue filing VAT returns even if there were no taxable transactions made during the standard tax period.

In addition to that, businesses have to carefully track the VAT payment terms & deadlines of each country and these should be met accordingly without delays. In some countries, non-resident companies are allowed to register for VAT and claim back some of the local VAT paid on purchased services and goods. It depends on the values of taxable transactions, but your company might have to make a claim for a refund.

How we can help you

To help international businesses continue operating in accordance with the global VAT compliance rules and ease the burden of managing the VAT submission & VAT return services, we combined our years of knowledge & experience with automated software. The result is a solution that notifies about various deadlines, assists in meeting them in time, and filling out all the necessary information correctly. Without the cumbersome task of handling tax-related matters, you can focus on your business’s growth first and foremost.

One-stop solution

We assist our clients by providing them with all the help they need when handling VAT/GST. Our services include:

  • An automated cloud-based platform for file transfer, reminders and sharing information;
  • A single point of contact for your global VAT/GST compliance and advice;
  • Automatic preparation and submission of necessary statutory reports;
  • Tracking threshold limits;
  • B2B sales validation;
  • Constant updates about the changes in VAT compliance, exchange rates, and invoicing requirements;
  • Provision of up-to-date tax forms;
  • Corresponding with the local tax authorities on your behalf.

1StopVAT takes care of global VAT compliance, VAT submission & VAT return services so you don’t have to. This way, you can expand your business into new markets without the fear of experiencing any tax-related issues or penalties.