Many U.S. states now require online marketplaces to collect and remit sales taxes. The EU is following close behind, making marketplaces like Etsy and Alibaba responsible for collecting and remitting value added tax (VAT) beginning July 1, 2021. Christiaan van der Valk of Sovos outlines the EU program and measures being taken by individual jurisdictions.
Source: bloombergtax.com
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