VatZen

EU VAT compliance solutions for online sales

1 follower

EU VAT compliance solutions for online sales

1 follower

VatZen provides makers and business with a set of tools to sale digital products online in compliance with EU VAT regulations. With VatZen you don’t need to build complex VAT rules ever again.

Launch tags:Sales•Fintech

Launch Team

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Maker

Hey ProductHunt! 👋 I’d like to tell you a bit more about VatZen and why we built it. At one point, while working on a SaaS product which targeted the EU market, we understood that the latest regulations require us to collect VAT on every purchase from the EU member state with a proper rate, which depends on the country of the customer and on the native of the product we sell. So, we started building VAT rules ourselves, collecting appropriate rates from EU commission DB. It was working more-or-less fine, before we started working with businesses and realized that we should not charge VAT-registered business any tax, and we have to verify VAT numbers as well as store the evidence of the verification for later potential audit. Here was the moment we understood that we need to separate this logic into a separate product. This is how VatZen was born. Our goal was to create as simple product as possible, which would allow anyone to sell online products in a compliant way while keeping the costs of the service low. Currently VatZen contains the following services: - EU Vat Rates. This service allows you to fetch proper VAT rates for every customer. It allows you to geolocate the customer and the retrieve proper rate easily. - VAT Number Validations. As you shouldn’t charge VAT from a registered business, this is the service that provides you the ability to verify VAT numbers and store the verification evidence for audit purposes. - VAT Prices Generation. This is a practical combination of services above. VatZen will automatically compute price for you. And we’re also looking to launch the following services in the upcoming future: - Stripe & BrainTree OneClick. So all the data will be collected automatically from your payment providers and prepared for reporting. - VAT Invoices Generator. To generate proper invoices along with our pricing service. - Reporting Helper. We want to help you easily report VAT via VAT-Moss scheme. Please let us know your thoughts on the service! Are we missing any feature you’d need for your startup?

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6yr ago

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I haven't completed my research on the topic, but it seems you either do this on your end, potentially using Vatzen, or using a MoR and pay a higher fee but don't deal (at least in the beginning) with all the accounting complexity. It's sad that EU haven't figured out this yet and one more reason why it is so difficult to enter EU as a unified markets vs US for example. Good luck with your project, you are trying to solve a real tough issue

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6yr ago

Maker

@yorgos_kats Thank you! What you described in the comment is more-of-less correct, and what we want to build in the end is the solution which will allow our customers to sell in EU just as they do in any other part of the world, without much care about VAT, and it will handle accounting and reporting on it's own

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6yr ago