In December 2021, more than 800 startup founders, venture capitalists, policymakers, and executives from leading companies met face-to-face at the NOAH Conference in Zurich. The event is known for bringing capital together with sustainable tech companies of all sizes. The conference concept adds value to different groups and enables them to work together on sustainability. Key stakeholders include landowners, non-governmental organisations, investors, policymakers, academics, businesses, tech solution providers and indigenous peoples.
This year, Roman Koidl, CEO and founder of eClear, presented on the main stage the importance of the company, the leading technology platform for technology and customs clearance in Europe, for the upcoming challenges in cross-border online trade – with a particular focus on VAT.
Cross-border transactions account for around 35% of the €500 billion European e-commerce market
The goal of eClear is to lift the current conditions: The administrative hurdles e-commerce businesses face when selling across borders, be it applying the correct VAT rates or customs regulations in the different European destination countries – the 27 EU Member States, the United Kingdom, Northern Ireland or Switzerland.
As part of harmonising the European VAT system, customs, and VAT regulations have become even stricter, and the administrative hurdles are more significant than ever. The reason for this is the volume of tax fraud in Europe, estimated at 150 billion euros. Therefore, the European Commission has initiated activities to improve the prosecution of companies that pay VAT incorrectly. In addition to a pan-European public prosecutor’s office, the VAT package for e-commerce and marketplace liability was also introduced. Moreover, there was also Brexit.
eClear, and its knowledge of the challenges mentioned above, has built an infrastructure that provides tax content: over 1.2 million tax codes and 300,000 exemptions in one database. eClear thus offers merchants end-to-end tax automation and tax payments – all in one tool. We call it the Single Point of Truth, SPOT. The merchant sees everything he does in a single place. With all his revenue, all the taxes he has to pay, and all the cross-border shipments he has, eClear enables merchants to ship to Europe with its fully certified tools, with no registration, no liability, no taxes and no auditing, which means the merchant has no barriers across Europe.
Introducing SPOT
SPOT is your new financial dashboard. It is developed for enterprises looking to navigate their business through the tangled complexity of cross-EU shipments, VAT reporting and tax compliance. The tool provides a complete picture of your e-commerce business.
When operating a shop and being active on multiple marketplaces, SPOT pulls your invoice data from all systems and aggregates it into a combined overview. You no longer have to switch back and forth between different reports. A single SPOT log-in is all you need to access your revenue and sales data. Create an account, connect your financial data sources, and you are ready to go with SPOT!
