What the US Wayfair ruling means for Europe | Vertex Exchange Europe 2019 | World Finance

What the US Wayfair ruling means for Europe | Vertex Exchange Europe 2019 | World Finance


Ellen Van Daal: So, Wayfair is a decision
by the US Supreme Court, overruling the latest regulations in terms of having Nexus, and taxing
companies in the different states in the US. Before the Wayfair decision, you needed to
have a physical presence in each of the states to file your tax returns, and pay taxes. With the Wayfair decision it means doing business
in the US, selling to the different states, already means you have Nexus – and thus
pay taxes. So European businesses will have filing obligations
in each of the states within the US. The decision was last year, and now all the
different states are implementing their own rules. So you have different thresholds in each of
the states within the US to comply with tax registrations. So you need to monitor very closely every
different state within the US, what are the thresholds, when are they applying it. So you need to monitor it very closely. So Vertex has the content, so automating your
tax processes with Vertex means Vertex will offer you the content. So if there’s a member state that is applying
the different thresholds, or has set out their rules and regulations, Vertex will automatically
update their content – so it means that you’re already up to date, there’s no need
for you to do anything, other than the tax registration within the state. Thanks for watching. Click now for more videos from Vertex Exchange
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