Financial & invoicing terms explained
VAT
VAT is common outside the US—typically shown as a tax on value added at each stage.
Invoices
Include VAT number, rate, and net/tax/gross amounts as local rules require.
Reverse charge
B2B cross-border rules may shift VAT liability—state it clearly.
Rates
Reduced rates may apply to specific categories—map products correctly.
VAT — FAQ
- VAT vs sales tax?
- VAT is multi-stage; US sales tax is typically single-stage at retail.
- VAT number?
- Show on B2B invoices where required for reverse charge.
- Rates?
- Can differ by country and category—keep product mappings updated.