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Lovat Compliance LTD
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How to fill in "Store" and "Tax Setting"

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⁣How to fill in sections Store and Tax settings. In this video we will show how to fill in such sections as store and tax setting. First of all, make sure that you have filled in your company profile. Please, check if you set the correct country in the section "domestic country". That means the country where your company is established. As the transactions will be VAT counted according to your domestic country. For example, in the USA you have to choose also the state, zip code and address. For the UK you have to choose the state also ( England or Nothern Ireland). The next section is "Tax settings" where you have to fill in the information about your company and VAT tax. You need to add all your current VAT numbers. It takes some time for activation of your digital VAT numbers. Please, make sure that you have updated all your required VAT numbers because missing information may cause mistakes in VAT counting and VAT reporting. Also we have thre more reasons for registartion in the section ''Tax settings". The first one - is the Online Market place, the second- is the OneStopShop starting from the first of July 2021, the third- is the Import scheme for import registration. Note that for some countries you will need VAT represenative. Chooseing LOVAT as VAT representative the price will b added to your standard price. Also you can calculate how close you are to the thresold of all the countries you sale to. You can order VAT registration. The section "Tax settins" is intended for american market only.

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About Lovat Compliance LTD

Online platform for smart VAT reporting for e-commerce sellers


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