Tekiio Localization - Chile (SuiteTax) vs Sovos E-Commerce EU VAT Reporting (OSS/IOSS) for SuiteTax

Tekiio's Chile Localization product has been developed using NetSuite's tax, transaction and record bases, adding new tax calculation and reporting functionalities to enhance the use of NetSuite in Chile through SuiteTax's tax engine. The Chilean localization allows compliance with tax requirements by incorporating the functionalities of tax information management in vendors and customers, automatic calculation of withholdings in purchase invoices, electronic invoicing and management of tax reports. El producto de Localización de Chile de Tekiio se encuentra desarrollado utilizando las bases de registros, transacciones e impuestos de NetSuite, incluyendo nuevas funcionalidades de cálculos de impuestos y reportes para potenciar la utilización de NetSuite en Chile mediante el motor de impuestos de SuiteTax. La localización de Chile permite el cumplimiento de los requerimientos fiscales incorporando las funcionalidades de administración de información fiscal en proveedores y clientes, cálculo automático de retenciones en boletas de compras, facturación electrónica y gestión de reportes fiscales.

The EU E-Commerce VAT package came into force 1st July 2021. The rules require an expanded number of businesses to account for local VAT in the countries where they make B2C sales. Sovos offers a comprehensive Managed Service covering all relevant schemes: Union OSS, non-Union OSS and IOSS. This includes acting as Intermediary if required, easing the burden of the EU E-Commerce VAT Package and helping you to understand the right solution for your business. Extend your global reach without fear of noncompliance by leveraging our Built for NetSuite integration.