Lovat provides a tax compliance platform that automates VAT and sales tax calculations and reporting for businesses operating in 111 countries. By integrating with e-commerce systems, Lovat simplifies the management of tax obligations and ensures timely submission of tax returns, reducing the administrative burden on companies expanding into new markets.
Funding
$20K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Businesses selling internationally face the complex challenge of managing Value Added Tax (VAT), sales tax, and Extended Producer Responsibility (EPR) obligations across multiple jurisdictions. Calculating, reporting, and remitting these taxes can be time-consuming and prone to error, especially when expanding into new markets.
Solution
Lovat provides a comprehensive tax compliance platform that automates VAT, sales tax, and EPR reporting for businesses operating in over 100 countries. The platform integrates with e-commerce systems and online marketplaces to streamline tax calculations, manage tax obligations, and ensure timely submission of tax returns. Lovat's solution includes real-time tax determination, threshold tracking, and tools for managing DAC7 and IRS 1099-K reporting requirements. By automating these processes, Lovat reduces the administrative burden on companies and helps them stay compliant with international tax regulations.
Target Audience
Lovat primarily serves e-commerce sellers, providers of digital services, and marketplace facilitators who need to manage VAT, sales tax, and EPR compliance obligations in multiple countries.
Features
- Automated calculation of VAT and sales tax in 111 countries and 123 currencies
- End-to-end VAT software for managing global VAT liabilities and submitting tax returns directly to tax authorities
- EPR registration and reporting across 28 European countries
- Invoice generation with accurate tax amounts for B2B and B2C transactions
- VAT registration threshold tracking to control when a business needs to obtain a sales tax/VAT registration number
- Integration with e-commerce platforms and online marketplaces
- OMP tax rate API, OMP Feed API, Invoice OMP API, and OMP Report API
- Tax Academy providing online training for international tax compliance