August 2021 Product Updates

August 2021 Product Updates

See the summary of changes that were held below:

Fixes

  • EU distant sales threshold is in force since 1 July 2021. The new threshold calculation begins on 1 January 2021 from zero again. If you need your threshold calculated from January 2021 it is now available in the tax settings section.

Improvements

  1. Type of reporting parameter added to tax audit reports for Merchants and OMPs. Each transaction now has a type of reporting parameter which determines where the Seller needs to report this sale for example in union OSS or IOSS return;
  2. New Vendor parameters are added to manual uploading to the tax settings section, for OMPs;
  3. VIES checker module now accepts numbers starting with XI. XI VAT numbers belong to companies with a place of establishment in Northern Ireland.

New features

For your convenience we have added the following functions to our platform:

  1. New non-union OSS return is available for Online marketplaces and Merchants in the Returns section. See the video on how to fill in non-union OSS VAT return here “Filing of VAT return OSS”;
  2. Georgia is a new country available for VAT registration and VAT reporting for digitally supplied services.
October 22, 2024 589
Share to:
[blog_menu_right]
Watch a demo
Have a look around and see how easy using Lovat really is
Book now
[blog_related_content]
Watch a demo
Have a look around and see how easy using Lovat really is
Book now
[blog_subscribe_to_the_newsletter]