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Pictured: John McCarthy, CEO of Taxamo
Deloitte and Taxamo are collaborating on the launch of a new tax compliance service for digital marketplaces and their online sellers.
The service, developed in response to new VAT reporting requirements from the European Union due to come into place from January 2021, is aimed at enabling the marketplaces and sellers to register for VAT, automatically determine the correct VAT treatment of sales, submit VAT returns and remit payments of VAT to tax authorities.
The solution will be fully automated, underpinned by Deloitte’s tax compliance solutions and Taxamo’s technology platform, determining the VAT treatment of online sales.
Matt Ellis, managing partner for tax and legal at Deloitte said:
Nine months from now, hundreds of thousands of online sellers will have new obligations to account for VAT in the EU on their sales. European
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