VAT for SaaS
The software industry is evolving rapidly, and the digital distribution of applications and software is increasing. Within the software industry, Software as a Service or SaaS, has grown rapidly and this business model based on cloud computing is very likely to become the norm when licensing and delivering software services. GVC’s VAT for SaaS services ensure your cloud-based service is VAT compliant around the globe.
With advancements in network bandwidth capabilities and streaming, Software as a Service (or SaaS) is increasingly taking over other digital distribution business models, allowing instant access to countless programs and applications via the internet. Most companies allow users to purchase and download their system services or digital products from the web. SaaS has been incorporated into the strategy of nearly all leading enterprise software companies.
Software was once a product that was purchased, installed and maintained but with the rise of cloud computing and its adoption, Software as a Service (SaaS) has become a popular distribution method, where all the development, maintenance and upkeep of the program is done by the original creator.
SaaS has become a common delivery model for many business applications, including office software, messaging software, payroll processing software, management software, CAD software, development software, gamification, virtualization, accounting, collaboration, CRM, MIS, ERP, invoicing, learning management systems, GIS, and service desk management.
The global public cloud Software as a Service (SaaS) market is forecast to reach 157 billion U.S. dollars in size in 2020, more than doubling the market size in 2014. In addition, SaaS is expected to grow to 220 billion U.S. dollars through 2022.
GLOBAL VAT COMPLIANCE ENSURES YOU ARE FULLY VAT COMPLIANT WHEN DELIVERING YOUR DIGITAL SERVICES ACROSS THE GLOBE
Cloud computing is evolving rapidly and Software as a Service, also know as SaaS, is one of the key business models nowadays to distribute and deliver software. In a global digital market, the correct VAT treatment on SaaS is important to avoid inaccurate VAT calculations and allocations.
Global VAT Compliance has the knowledge and experience to make your company VAT compliant while you expand your SaaS business all over the world.
We offer comprehensive coverage across the globe providing services in Europe, the Asia Pacific region, Middle East and South and North America. Global VAT Compliance is able to provide Fiscal Representation in countries where even for Software Company services this is required, such as Switzerland, Serbia and Albania.
GVC is up to date with all the new and ever changing regulations as so your company is complying with local tax requirements so you can focus on your business and expansion opportunities across the globe.
What to know more about VAT for SaaS? Contact us and focus on your business expansion.
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GVC CAN HELP YOU BE FULLY VAT COMPLIANT ALL AROUND THE WORLD
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