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2 posts tagged with "lookupapp"

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· One min read

As a small team or a solopreneur you must have faced immense worry during audits about additional expenses in terms of penalties or taxes not paid. Most of the worry comes from incorrectly identifying business customers ( B2B ) from consumers ( B2C). You might have identified a consumer as a business customer and hence not charged taxes on the invoice but this will make you liable for paying taxes on behalf of the consumer instead because there is very little chance that you can get consumers to pay extra later. On top of this, there will also be additional fines and interest you have to pay for applying the wrong taxes on the invoice.

· 5 min read

While working for a large fintech company building products, we noticed more and more companies wanting to shift from manually validating VAT numbers of their customers to automating this process via APIs. What exactly is driving this trend?