ClearVAT is a pan European FinTech venture that allows eCommerce businesses to distribute their goods within the member states of the European Union in full compliance with the VAT of the respective country. In the 28 member states of the EU almost 750.000 eCommerce shops generate a turnover of approximately 450 billion EUR per year, an estimated 15% of which are transnational. Taxation according to the country of destination takes effect up until point of exceeding the supply threshold, meaning that the VAT of the country of dispatch should be charged and paid to the tax office of the country of destination. ClearVAT offers VAT clearing as an automated B2B cloud service (SaaS).
ClearVAT is also a fully PCI certified Payment Service Provider (PSP) that connects online shops with acquiring banks as well as processing a wide range of payments (cards, electronic cash, invoices, PayPal, prepayment etc.) simply and securely.