Reach Announces Platform-Agnostic Global Tax Compliance Solution
Offered worldwide, this revolutionary service ensures ecommerce businesses are fully compliant with sales tax, VAT, GST and duties, with Reach assuming all liabilities and compliance risk.
FOR IMMEDIATE RELEASE
CALGARY, ALBERTA, CANADA – December 4, 2023 – Already a worldwide leader in providing Merchant of Record services to global businesses, Reach is excited to announce the worldwide expansion of its revolutionary global tax compliance solution. Unlike competing services, the Reach platform is a standalone service that can be seamlessly integrated into a merchant’s existing ecommerce infrastructure without the need for additional coding or technical lift. This service eliminates one of the most complicated pain points for online businesses scaling into international markets.
The challenges of selling cross-border into international markets don’t end with payment processing and logistics. Many online businesses don’t realize that they must also be registered with domestic tax authorities, and calculate, file, and remit sales tax, VAT, GST and duties. The penalties for not complying with local tax laws can be severe, and extend beyond large fines into the realm of criminal prosecution.
“Our aim at Reach is to eliminate pain points that deter or prevent online businesses from selling cross-border and reaching their full revenue potential. By combining our world-leading Merchant of Record model with robust global tax compliance, we are unmatched in the space.” Sam Ranieri, CEO of Reach, said.
With this revolutionary solution, Reach’s Merchant of Record network localizes the customer’s experience to increase conversions while taking on all the complexity with local tax authorities. This means that Reach manages the calculating, filing, and remitting of any tax incurred on online transactions, freeing ecommerce businesses from all the hassle and costs of managing tax internally.
“Online businesses often treat the ecommerce space as the ‘wild west’ where anything goes.” Explained Mr. Ranieri. “But international regulatory agencies are more vigilant than ever when it comes to cracking down on businesses that don’t pay what is proscribed by local tax laws. And those crackdowns can be harsh.”
The Reach global tax compliance solution is available globally in over 50 of the world’s largest ecommerce markets, with additional jurisdictions being added on a regular basis. The solution is also not limited by business focus, as it is universally available to any economic sector, from B2C to B2B, for any marketplace or platform, and also for digital and SaaS merchants who struggle with the complexities of global taxation on recurring and subscription payments.
ABOUT REACH
Reach is a global Merchant of Record that helps businesses scale in international markets, reduce risk and complexity, increase conversions and lower fees. Its vast network of local entities turns every international buyer into a local buyer, giving them the comfort and convenience of paying in their local currencies with the payment methods that they prefer. In addition to market-leading automated FX and global tax compliance, Reach offers a suite of integration options, ranging from no-code plug-and-play access to a powerful and fully customizable API.
For Media Inquiries:
Reach
Andrew Cunningham
Head of Marketing & Media
marketing@withreach.com