LOVAT is a software for tax management in 111 countries worldwide. Lovat uses AI image recognition to recognise, analyse, and qualify tax documents. Image Problem E-commerce companies selling cross-border need to follow local rules: calculate VAT, issue invoices and pay tax in countries where they sell. Tax rules constantly change, and requirements for documents, registration, and payment of taxes are also evolving. To enter new markets quickly and grow there successfully, e-commerce businesses need to monitor tax rules constantly. And there are more and more people who sell without noticing boundaries - these are not only sellers of goods, but also content creators, designers, and tutors. Solution Lovat simplifies all labour-intensive tax management for businesses selling cross-border unable to be sure that taxes are paid correctly for all territories where e-business sell goods or services. AI-powered document recognition speeds up the processing of tax documents in any language and reduces errors to a minimum. Among Lovat’s features are: invoice generation, tax reporting, tax calculation, threshold tracking. Lovat helps businesses to sell globally by simplifying tax management and ensuring full compliance with tax regulations across all relevant jurisdictions. Market The market size of Tax Preparation Services industry (US and Europe) is expected to reach $25 billion by 2025. TAM- $25 bn. SAM - $18 bn. SOM - $4 bn. Contact Lovat Compliance Website Lovat Compliance LinkedIn This article was published on 2024-09-30
