At Tradeshift, we know how important it is to have your goals and strategies aligned. In our ever-connected world, companies are finding themselves conducting global trade on a scale we’ve previously never seen. While this scale of business is helping many organizations to grow their operations, the complications of global trade are creating difficulties for numerous enterprises. Ensuring compliance across a variety of international borders is not only challenging, but it is also time-consuming.
With Tradeshift, you can take the headache out of compliance by relying on the support of a tried and true partner.
The complexities surrounding global tax and e-invoicing compliance require the efforts of all parties involved — the supplier, the buyer, and Tradeshift as your service provider. Our Tradeshift Pay™ solution offers several ways to enable, encourage, and help the transacting parties enforce compliance in their business practices.
Since numerous countries have their own set of laws concerning compliance, and since these laws vary from country to country, achieving global compliance can be a challenge. For this reason, your organization needs to have a thorough and reliable knowledge base to succeed.
The first step? Investing in a solution that can take the guesswork out of compliance
When you work with Tradeshift, you gain the support and expertise of our strong partners for compliance. Using our relationship with Sovos Trustweaver and Deloitte, we can obtain e-invoicing and tax compliance expertise and industry approaches for most relevant countries.
At Tradeshift, we prioritize transparency in our practices. We believe that in order to succeed, you need access to the right data at the right time. Our product development teams leverage our partnerships and compliance learnings to not only enhance our product offering but to ensure you have the right information regarding compliance regardless of where you’re conducting business.
Tradeshift’s services can be used globally (except within countries under government embargo or where other legal or local restrictions apply). Still, compliance with e-invoicing is only supported proactively within our list of covered countries. Any countries not currently covered have the potential to be added to our list at an additional cost.
Below is a comprehensive list of the 50+ countries for which Tradeshift has actively addressed electronic invoicing and tax compliance:
The following countries are ones where Tradeshift offers full support with our services:
*In India, Outbound AR Clearance is supported for eligible sellers. Deployment of this service incurs an additional cost. Outbound AR Clearance refers to the process at the invoice issuer's end to communicate the invoice to a tax administration-designated hosted service and to receive a predefined approval or confirmation message from that service as a precondition for the issuing, cancellation, or correction of an invoice.
Inbound AP Clearance means that we address invoices on the receiver’s end for validation with respect to invoice integrity, authenticity, certificate trust, and clearance. The countries we provide only Inbound AP Clearance include:
In the following countries, Tradeshift is not a certified local provider. This means that original legal invoices need to be attached to every invoice sent via Tradeshift. Those countries include:
Tradeshift also offers invoice archiving, which means that under the laws of the supported countries, we help provide long-term compliant storage of critical electronic data. In the following countries, we provide invoice archiving as a service:
Compliance is always changing and adapting as countries adjust their regulations and restrictions. Enterprises that conduct business internationally need to stay up to date on the latest regulations and best practices to keep things running smoothly. The list of countries we support with compliance changes as our services expand and our partnerships grow. For a continuously updated list of supported countries, please visit our Supported Countries page.
Tradeshift is your go-to partner for all your invoice and tax compliance needs. Our Tradeshift Pay™ product can help your organization to stay on top of compliance, reducing the likelihood of risk, fees, and fines. To learn more about how our advanced software solutions can help you to transform your invoicing and compliance processes, reach out to our team of experts and see Tradeshift in action.