Automating sales in European Union with airSlate SignNow

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hello from hamburg are you a marketplace and do you think that your vet does not need any special attention because you for example only manage eu sellers in the next couple of minutes i will explain to you why this statement is misguided and what you should pay special attention to so stay tuned what exactly is actually happening right now and what has changed the implementation of the eu e-commerce vet package increases the complexity of cross-border e-commerce since the introduction of this package marketplaces are now responsible for paying vet in certain cases moreover national regulations such as the concept of joint liability are becoming more complex and increasingly stricter a further example compliance requirements are regularly becoming more stringent leading to a need for automated solutions to ensure tax compliance but who is affected by this clearly the operators of marketplaces including those with eu sellers on their platforms in addition of course online sellers from eu and non-eu countries who sell their goods to consumers throughout the eu via marketplaces so why should you become active as a marketplace with a visualization of the two relevant transaction types i would like to show you why these transactions lead to a shift of tax liability from the merchant to the marketplace even if the marketplace is not involved in the sale from a legal point of view first transaction type supplies of goods within the eu by a third country merchant to an end customer goods are sold on the marketplace the movement of goods takes place within the eu domestic supplies plus intra-community distance sales the online merchant is established in the third country from an eu perspective second transaction type distance sales of goods imported from third countries not exceeding 150 euros goods are sold on the marketplace the movement of goods starts in the third country the sale with a value of maximum 150 euros is made to an end customer in the eu the establishment of the seller eu or third country is not relevant in this case in sum you must adapt the above regulation in your processes to ensure that vat is remitted to authorities in case you are obligated to do so but beware there are also extensive record-keeping and reporting obligations for platform operators in addition new regulations will tighten these obligations even more in 2023 so prepare yourself early but what do you have to do if you are affected by the points i just mentioned firstly there is a need for automated tax determination at the transactional level to ensure that you can pay that when you are required to do so also make sure that you always apply the correct vat rates in each eu member state and finally consider the vet registration processes local vet registrations one stop shop and import one stop shop and what happens if you don't follow the legal tees there can be significant financial implications due to the additional payment of vat for example 19 in germany including possible fines and interest depending on the member state for example up to 240 percent in a country like italy there's also the risk of criminal proceedings for non-compliance with tax obligations which can ultimately lead to investors withdrawing their funds because for example esg criteria are no longer met it is no secret that the state will increasingly keep an eye on marketplaces so be prepared and another risk you could face is your liability for unpaid vet in cases of non-compliance by your sellers protect yourself from these penalties and the complex or costly consequences we will assist you with that with us at your side we offer you among other things a plug-and-play implementable tax solution we automatically suggest tax rates per product category we automatically check the vet id of both the buyer and seller we automatically calculate but at the individual transactional level we follow the highest compliance standards with our team you have award-winning vat experts at your site no onboarding project is required no setup costs no fixed running costs no consulting fees with taxes fully automatic web solution for marketplaces we ensure that you are always that compliant let us automate your vet together we look forward working with you [Music]