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Value Added Tax (VAT) - a consumption tax levied on the value added to goods and services at each stage of production or distribution. VAT regulations specify which transactions are taxable, outline the applicable tax rates, detail exemptions or zero-rated goods and services, and establish requirements for businesses regarding VAT registration, invoicing, record-keeping, and periodic tax returns. These regulations are designed to ensure tax compliance, prevent evasion, and provide clarity to both businesses and consumers regarding their obligations under the tax system. Compliance with VAT regulation is essential for businesses operating in jurisdictions where VAT is imposed, as failure to adhere can result in penalties, interest, or legal action.
Extended Producer Responsibility (EPR) regulation is a policy approach that holds producers accountable for the entire lifecycle of the products they place on the market, particularly for the take-back, recycling, and final disposal of their products and packaging. EPR regulations require manufacturers, importers, and sometimes retailers to manage the environmental impacts of their products after consumer use, typically by financing or organizing systems for collection, sorting, and recycling. These rules aim to incentivize eco-friendly product design, reduce landfill waste, and promote the circular economy by shifting the costs and responsibilities of waste management from local authorities to producers. EPR compliance often involves registration, reporting, payment of fees, and meeting recycling or recovery targets, with penalties for non-compliance to ensure that environmental objectives are met.
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Nobody likes compliance, it is always painful, but Symanty makes it manageable and easy, so I can focus on my business tasks
Maria Perez
Selling clothes on Amazon
I can't imagine starting business in EU without Symanty, it would be a nightmare
Kate Stone
Founder of Stone Jewellery
Great tool, I can find answers easily and reach out to legal only in complex cases
Ankit Agarwal
Account manager in food producer