June 2021 Product Updates

See the summary of changes that were held below:

Fixes

1. We have updated The German year 2020 VAT return  with Corona non – standard rates;
2. We have updated Rounding rules for France and Denmark.

Improvements

• We have added a page for the Sales tax economic nexus,  so now you can check the up-to-date information for each state you need in one document in addition to the diagram on a dashboard.

New features

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

1. New reports are available for Online marketplaces via OMP API. See OMP API Guide – GET Report section;
2. New EU VAT calculation rules in line with EU VAT reform – all transactions dated 1 of July 2021 and later will be treated according to new rules;
3. OSS registration new types of VAT registration are available online;
4. IOSS registration – available on the Lovat platform in a “Tax settings” section;
5. New Europe distant sales thresholds are available since 1. July 2021. Old threshold calculation will be available till 31. July 2021 and later upon request;
6. Stripe integration is launched for SAAS businesses and digital services sellers. Available in the Stores / Project section.