API for online marketplace
Digital platform operators are liable for sales tax and VAT as well as report certain information about sellers using their platform. Our API enables marketplace facilitators for all reporting functions: calculate tax at buyers’ locations, collect data, and fill and submit reporting forms.
How LOVAT can help
Overcome the obligatory of tax reporting in 5 minutes
Steps
- Set up Lovat account
- Track Sales Tax / VAT Threshold
- Get VAT / Sales TAX registrations in target countries
- Get the dataset you need to collect
- Integrate Lovat API
- Calculate consumption taxes
- Submit tax returns
- Submit DAC7 report
- Pay sales tax / VAT
- Get reports about remitted taxes for your sellers
Many countries, including the US and the EU, are increasingly moving towards collecting taxes and exercising control over sellers through platforms-marketplaces. This is reflected in the fact that many countries impose an obligation to collect indirect taxes on the marketplace. Also, environmental legislation regarding packaging imposes obligations on platforms. Since 2023, the DAC7 directive has come into force, according to which certain data on sellers must be transferred to the tax in digital form. And such legislation is constantly updated and added. We offer the marketplace a single reporting platform Lovat marketplace through which the company can control the reports that must be submitted in different countries and also the ability to generate such reports in the format required by government agencies.
Customer success stories
We run a marketplace for art objects it took us two months to start collecting VAT. With Lovat API we have tax analytics for each merchant.
Greg Foster
ArtShop
We recently started to use LOVAT for VAT calculation, we need it to get ready for Brexit, for now, we collect statistics, and the Lovat team also helped to prepare explanations for our sellers
Gerhard Tomas
CloudNine Green
We are a B2B marketplace for wholesellers and normally our users sell reverse charge without VAT, but we have minority users without VAT number that's why we decided to install LOVAT API. Now we can provide our users with full VAT reports.
Zhou Yuhan
Jingguo Store