- Regulation & Innovation: Designing marketplaces in just four steps Value Added Tax-compliant
- With the help of Taxdoo, Mirakl’s marketplace and online retailer clients comply with the new VAT obligations from 1 July 2021 and minimise liability risks.
- Customers rely on Taxdoo’s high European standards; process for ISO 27001 certification underway
Hamburg, 1 September 2021 – The compliance platform Taxdoo from Hamburg and the French and at the same time world’s largest SaaS provider for marketplace platforms Mirakl have entered into a strategic partnership . Together, Taxdoo and Mirakl enable marketplaces to process international Value Added Tax and financial accounting automatically and to fulfil all relevant compliance requirements.
Due to increasingly complex regulatory framework conditions – not least since the VAT E-Commerce Package on 1 July 2021 – marketplaces are being held even more liable.
European solution minimises liability risk of marketplaces
With the introduction of the VAT E-Commerce Package, the framework conditions have become even stricter. Among other things, the reform is intended to enable EU countries to minimise damage caused by online traders not paying Value Added Tax by obliging marketplaces to pay Value Added Tax directly for certain transactions.
Thanks to the European solution of Taxdoo and Mirakl, marketplaces minimise their risk of being held liable for not paying or incorrectly paying Value Added Tax . This is done through a real-time VAT assessment of each individual marketplace transaction, which must reflect the VAT law of all 27 member states and the UK.
Dr Matthias Allmendinger, co-CEO of Taxdoo, explains: “Since 1 July this year, marketplaces have been held more accountable in terms of VAT levies. With Mirakl, we are sure to have a first-class technological partner at our side to make marketplaces Value Added Tax-compliant. Germany and France are high-turnover countries in e-commerce. We are all the more pleased to offer a Franco-German solution that will benefit the entire EU.”
“With Taxdoo as part of the Mirakl Connect ecosystem, our clients will be able to benefit from automated VAT processing very easily in the future. This will allow Mirakl customers to continue to operate their marketplace in a legally compliant manner under the new EU-wide VAT reform,” says Luca Cassina, Executive Vice President Customer Success at Mirakl.
Well-known clients rely on high European standards from Taxdoo and Mirakl
The technological solution is quickly scalable in just four steps and easy to connect via an API interface. This plug&play function – thanks to “no-code” – proves to be a significant advantage for online traders, as it can be individually adapted. Taxdoo meets the high European security standards such as the DSGVO. This has uniformly regulated the processing of personal data by private companies and public bodies in the EU since May 2018. The process for ISO 27001 certification is also currently underway.
Taxdoo is the compliance platform for the digital economy. Taxdoo enables marketplaces, online retailers and their tax advisors to process international Value Added Tax and financial accounting automatically and to fulfil all relevant compliance requirements.
Taxdoo supports a four-digit number of customers with its platform. In December 2020, the company won the TAXCELLENCE Award 2020 as the best “Tax Technology Solution”. Taxdoo is headquartered in Hamburg and is supported by investors Accel, HTGF, Visionaries Club and 20VC. For more information, visit www.taxdoo.com.
Mirakl offers the industry’s first and most advanced SaaS platform for enterprise marketplaces. With Mirakl, businesses across B2B and B2C industries can launch marketplaces faster, grow and operate with confidence while exceeding rising customer expectations.
Platforms are the new competitive advantage in e-commerce and the world’s most trusted brands choose Mirakl for its comprehensive solution of technology, expertise and the Mirakl Connect ecosystem to unlock the power of the platform business model.
It gives companies such as ABB, Astore by AccorHotels, Best Buy Canada, Carrefour, Catch, Changi Airport, Darty, The Kroger Co, Leroy Merlin, Maisons du Monde, Metro and Toyota Material Handling the speed, scale and flexibility to win in the changing e-commerce landscape. For more information: www.mirakl.com.