BERLIN, Oct. 18, 2023 /PRNewswire/ -- Value-added tax (VAT) is one of the trickier taxation hurdles e-commerce and online sellers come up against while growing their business internationally. To alleviate the burden and help deal with the confusion of this system, VAT Ai (www.vatai.com) has been launched. VAT Ai is a cutting-edge VAT compliance SaaS software developed by industry experts and IT specialists to simplify the complexities of VAT regulations for business owners. This new platform reduces the workload for enterprises, improves efficiency, and lowers operating costs through systematization.
Andreas Blass, Account Executive at VAT Ai, underscored the platform's innovative approach in the realm of VAT compliance, emphasizing the crucial role of human expertise in guaranteeing a smooth and precise VAT filing process. "The advent of ChatGPT has ignited significant advancements in the field of artificial intelligence. However, the role of humans remains indispensable in VAT compliance," said Andreas. "What makes VAT Ai so innovative is how it combines human expertise with AI. We harness the professional experience of local experts to streamline VAT compliance. Originally, tasks that required 3-5 days of manual processing can now be efficiently and accurately completed in just 3-5 minutes with the help of AI technology."
A VAT is a consumption tax applied to goods and services at each stage of the supply chain. The final consumer is ultimately liable for the VAT during their purchase, but businesses are required to collect the tax from their customers and remit it to the local government. Online retailers who sell goods or services to customers in other countries are required to register for VAT in those countries and obtain a VAT number. This is to ensure that they fully comply with the country's VAT regulations.
Seeing a pain point in the international VAT system for e-commerce sellers, VAT Ai was developed to help serve professionals confused about the complexities of local VAT laws in different regions of the world. Partnering with local tax professionals with region-specific knowledge bases, VAT Ai enables a clear understanding of disparate VAT regulations. Thanks to this on-the-ground understanding and intelligent software, companies outside of the region or country they conduct business in are compliant with local VAT laws through VAT Ai's help with VAT registration and VAT filings.
VAT law knowledge is essential when working in international e-commerce. Avoidance or ignorance of local VAT laws can lead to the shutdown of an online store or the requirement of penalty payments. When utilizing VAT Ai's VAT registration, companies can navigate these complex laws through VAT Ai's assistance in tracking the registration threshold to determine taxation and calculating taxation according to a country's specific tax rates. VAT Ai also provides insight into local exceptions in VAT law as well as reminds businesses of deadlines and how to prepare for new policies in advance.
In essence, businesses no longer have to worry about understanding VAT laws, because VAT Ai does the worrying for them. The one-stop platform guides businesses from their VAT registration through the filing of their VAT returns. This automatization improves businesses' productivity and frees up owners and managers so that they can focus on core business activities.
For more details, please visit: https://www.vatai.com.
About VAT Ai
VAT Ai (www.vatai.com) is created by a dynamic international team composed of VAT professionals, IT experts, business developers, and customer advisors. Possessing a wealth of knowledge and experience, the team is committed to providing top-notch solutions and support to clients. With a deep understanding of the European market and the capability to cater to diverse needs, the team stands ready to deliver exceptional service.
Contact:
info@vatai.com
