The startup offers an online platform that automates the generation of purchase invoices while ensuring compliance with tax regulations, including VAT recovery on digital services. By streamlining the declaration of expenses and scheduling recurring invoices, the platform helps businesses save time and reduce their income tax liabilities.
Funding
$200K 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
Many businesses, particularly in Chile, struggle with the complexities of declaring expenses for digital services from foreign companies and recovering the Value Added Tax (VAT). Incorrect declarations can lead to overpayment of income taxes and lost opportunities to claim VAT credits, while also risking non-compliance with tax regulations set by the Servicio de Impuestos Internos (SII).
Solution
Wasabil is a platform designed to automate the generation of purchase invoices for digital services, ensuring compliance with Chilean tax regulations and facilitating VAT recovery. The platform integrates with the SII and popular digital service providers like Google, Shopify, and Facebook to automatically transform invoices into SII-recognized documents. By correctly declaring expenses and offering features like recurring invoice scheduling, Wasabil helps businesses save time, reduce income tax liabilities, and recover VAT on eligible digital services.
Target Audience
Wasabil primarily targets businesses in Chile that utilize digital services from foreign companies and need to comply with local tax regulations while optimizing their tax liabilities.
Features
- Automated invoice generation for digital services from foreign companies
- Integration with the Servicio de Impuestos Internos (SII) in Chile
- Compatibility with popular digital service providers (e.g., Google, Shopify, Facebook)
- Automated transformation of invoices into SII-recognized documents
- Recurring invoice scheduling for services with fixed rates
- Calculation tools to estimate potential savings
- Secure data protection measures, including encryption
- Support for multiple users and unlimited services on the Enterprise plan