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Stripe adds VAT and GST tax capabilities
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Stripe secures further $1bn in investment
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Stripe investors cash in on $1bn worth of shares
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Stripe, an Irish-American payment processing platform, announced the launch of Stripe Tax to help businesses automatically calculate and collect sales tax, value-added tax (VAT), and goods and services tax (GST) in over 30 countries.
The Stripe Tax feature was engineered in its Dublin headquarters and has been in pilot mode over the last six months.
The new feature automates tax calculation and collection for transactions on Stripe, tells businesses where they need to collect taxes, and creates comprehensive reports to make filing taxes easy.
The Stripe Tax’s features include real time tax calculation by determining the end customer’s precise location, and matching that to the product or service being sold.
Stripe goes beyond payments with Stripe Identity to provide AI-based ID verification for transactions and much more – TechCrunch
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