Value added tax

Information about VAT

Value Added Tax (VAT) is a consumption tax levied on goods and services within the European Union (EU). For private customers residing in the EU, VAT is typically included in the price of goods and services they purchase. The VAT rate varies depending on the country, with each EU member state setting its own rates. When making a purchase, the VAT is automatically applied based on the customer's location. VAT rates may differ for different types of goods and services, and businesses are responsible for collecting and remitting VAT to the appropriate tax authorities in compliance with EU regulations.

How VAT is managed

At 99Stack Cloud, Value Added Tax (VAT) is seamlessly integrated into the payment process. VAT is deducted automatically during payment, leaving the final account balance as the net amount. This ensures transparency and simplifies transactions for customers. By deducting VAT upfront, customers receive a clear understanding of the total cost without additional tax burdens. Our streamlined approach to VAT management enhances user experience, allowing for smooth and efficient transactions while ensuring compliance with taxation regulations within the European Union.

Source: https://europa.eu/youreurope/business/taxation/vat/vat-rules-rates/index_en.htm