At Cloud Commerce Pro we understand it can be difficult to run a busy, successful business while keeping up with the fluid nature of your legal obligations for international trade. Amidst IOSS, Brexit and an ever changing tapestry of international trade deals, you could be forgiven for feeling somewhat confused when it comes to VAT compliance. This is why we are committed to giving you the tools to ensure you are in the best position possible to stay ahead of the curve.
Currently VAT rates can be set in a number of different places in Cloud Commerce Pro which, although it allows for greater flexibility, can be extremely complicated at times. To simplify the process while also bringing it inline with modern accounting standards, we will be introducing the ability to apply a default tax treatment on a product by product basis. Treatments such as standard rate, reduced rate, super reduced rate and many more will be easily selectable from a new widget on your product page.
This change will allow your products to have the correct VAT rate applied, irrespective of which country they’re being shipped to. If that country changes its standard VAT rate, our system will automatically update your Standard rate products, so you no longer have to. It also means you can sell the same product across all your sales channels, without needing to create separate products, with separate vat rates, for selling into different countries.
The correct tax treatment often differs from product to product and can be different depending on which country your order is being shipped to. Our new VAT widget takes the guesswork out of this process. Set up your product tax treatments once and our new rules will keep your VAT rates accurate. Now you won’t have to worry as Cloud Commerce Pro will always give you the most up to date VAT rates for all treatments in every country you sell to.
We’ll be rolling this change out soon, and many others are on the way as we simultaneously improve our system whilst adapting to our new trading relationship with Europe.