Avalara has acquired VAT Applications NV, Belgium-based developer of the iVAT suite of VAT compliance software and services, in the latest move for the cloud-based tax compliance software provider to expand their global presence
“This deal is a great win for Avalara and businesses dealing with the burdens of tax compliance around the world,” stated Scott McFarlane, founder and CEO of Avalara. “Our goal is to offer the most comprehensive portfolio of cloud-based tax compliance solutions on the planet, and adding the iVAT portfolio is a big step in that direction.”
That portfolio of VAT determination and compliance solutions includes a cloud-based tax determination and invoice preparation solution and an automated VAT compliance service for filing returns in all EU countries in the required formats and appropriate languages. Avalara, which already provides calculation in more than 190 countries, will benefit from the addition of automated compliance services for international business, which iVAT has provided for customers ranging from small business to large enterprise firms.
“Over the past 14 months Avalara has extended our leadership in the U.S. sales tax compliance industry with acquisitions of leading content and technology providers for U.S. telecommunications, hospitality, fuel and other excise taxes, digital goods, as well as internationally with the addition of Brazil and now European VAT,” McFarlane stated. “We have surpassed every competitor that existed when we began disrupting this marketplace more than 10 years ago and now stand alone in the market with the breadth and depth of our coverage.”
iVAT solutions will be featured on VATLive.com, Avalara’s free online service for tax news, insight, and accurate VAT rates.
On the share capital acquisition of VAT Applications, Avalara was advised by DLA Piper in Belgium and its primary team of corporate partner Caroline Daout, corporate associate Diewertje Castelein and HR associate Soetkin Lateur.
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