On-Line Seminar Will Examine New EU Digital VAT Regime

Tax-News.com, New York

27 May 2003

Taxware, a well-known tax software developer of worldwide tax compliance systems, will be holding a lunch-time (tea-time for Europeans!) webinar on the new European Union digital VAT regime coming into force on 1st July. The on-line event will take place on Wednesday, June 11, at 12.00 pm EDT (4.00 pm GMT).

All companies based outside the EU which sell digital products into the EU will need to become compliant with the EU's Directive on the Taxation of Digital Sales; for companies with a significant volume of sales to individuals and unregistered traders, it will be necessary to register for VAT in one or more EU member states.

A Digital Good or Service is an item supplied wholly electronically, as opposed to physically, over the Internet and downloaded by the purchaser. Digital Goods and Services include: broadcasting, web-hosting, distance maintenance, software, images, databases, news services, music, films and games, online gambling, distance learning.

Taxware tax experts Ying Chen and Camilo Martinez will describe the new regime for 30 minutes, followed by questions, on http://www.taxware.com/euwebinar.htm. 100 places are available (free) to the first applicants for the webinar.

Ying Chen is the Research Lead (International) of Taxware's Tax and Government Affairs Department, where she leads the research projects of the International Tax Research department, and works on implementing tax laws and rules into Taxware's software systems. Ying has had the opportunity to advise Taxware's multi-national clients on using WorldTax system and has become familiar with the various indirect tax regimes worldwide, including European VAT and VAT systems in Asia-Pacific countries.

Camilo Martinez is the International Tax Counsel for the Tax & Government Affairs Department. Mr. Martinez graduated as Juris Doctor by the Sao Paulo (Brazil) University and specialized in Private International Law. Before joining Taxware, Mr. Martinez worked in corporate matters and international direct and indirect taxation in England, France, Venezuela, Hungary and Brazil. Mr. Martinez is fluent in English, Spanish, Italian and Portuguese and used to lecture in Brazil for a think-tank in international trade and for candidates to the Brazilian IRS.

Taxware entered the European market with a system for the calculation, reporting and compliance of VAT, GST, sales and consumption tax— the WorldTax System. This system is currently available for the EU as well as many Asia-Pacific and South American countries. WorldTax is the only cross-border system on the market with the capability for triangular trade processing. Internationalized features can be used universally, with more countries and languages continuously being incorporated.

Taxware’s software captures tax data from the user’s accounting package, performing tax calculations and producing audit trails for the generation of reporting and compliance. Providing a global tax solution, the company’s systems for automated tax compliance include modules which address sales/use, consumer’s use, Internet, international taxation, address verification, exemption processing, automated returns and property taxes. Taxware’s systems have been benchmarked as the most accurate and fastest processing in the industry today.

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