Gareth Kobrin, CEO
Despite being in the good books of success, expansion likely becomes pivotal for every business at some point. In the wake of globalization, expanding to any country is a cinch for businesses all around the globe; however, it triggers obligations to comply with the local laws of the country they are expanding to. The crux of the biscuit is to identify the legal obligations and register for VAT in the new country. Weathering the storm of different laws, multiple languages and taxation complexities, VATGlobal, an international VAT technology company is on a mission to help businesses navigate this complex VAT landscape as they expand into new territories. The company’s VAT compliance software automatically calculates their tax obligations, prepares draft VAT returns and other required filings for submission, and educates them on relevant VAT compliance rules to ensure that the businesses overcome the compliance struggle.
VATGlobal was initiated as the registrations and compliance division of the biggest VAT reclaim firm in the world, VATIT, to help businesses get registered for VAT in multiple countries and comply with the local laws. About a decade back, when technology was almost non-existent, VATGlobal built a centralized software solution (a compliance and filing engine) to automate the server and operational side of indirect taxation. This solution enables clients to deal with the national VAT complexities and swiftly navigate through the complicated world of VAT, no matter which country they operate in. Besides the technology solution, VATGlobal also gives its clients a hand-holding service or managed compliance service, which enables effortless account management and constant support along the way. “In this era of VAT digitalization where tax registration to the filing of returns is all online, becoming technology-focused about two years back was a perfect decision for us,” says Gareth Kobrin, CEO of VATGlobal.
Besides calculating VAT, VATGlobal’s VSuite system has an additional module called VLearn, which is a one of a kind educational portal helping the clients improve their VAT compliance knowledge and access country-based legislation and case law. With the software’s user-friendly interface, clients can have all their questions answered and an array of different VAT topics clarified and defined. The onboarding wizard within the software leverages simple setup processes and machine learning to store relevant client information and their problem areas based on the questions asked.
In this era of VAT digitalization where tax registration to the filing of returns is all online, becoming technology-focused about two years back was a perfect decision for us
Being API-friendly, VATGlobal also integrates with other accounting packages in order to acquire the client’s transactional data, perform indirect tax filings, and calculate VAT returns. The integrations help VATGlobal seamlessly pull the data in real-time data, and do the necessary tax compliance.
In April 2019, the MTD (Making Tax Digital) legislation was implemented in the UK. A particular multinational marketing and advertising agency, with hundreds of other companies under its umbrella, suddenly had to comply with this legislation. The company was struggling to do the necessary research and was lacking the enhanced capabilities to build a digital platform for taxation. As an ultimate panacea, VATGlobal integrated its solution with all the different accounting systems of the company. Within two months of setting it all up, VATGlobal’s compliance and filing system could onboard all the agencies under the company’s umbrella. In just under five months, VATGlobal ensured the customer’s entire network is compliant to the MTD legislation with none of them having to pay fines or penalties.
For the last 10 years, VATGlobal’s clientele has kept growing every single day. The company is planning to launch a new version of its managed compliance solution by EOY. VATGlobal aims to continue investing and expanding, across over 100 countries in the world as a real global technology solution provider for businesses looking to implement legislation.