Digital River, Inc. (NASDAQ: DRIV), the revenue growth experts in global cloud commerce, announced a new online tax management solution for digital content publishers who market and sell apps through the Google Play ™ Store. The solution acts as a tax manager, working on behalf of the publisher to automatically calculate and remit taxes for online Google Play transactions in more than 30 countries.
“Google Play merchants no longer have to go it alone. Rather, Digital River will serve as a local tax expert as well as assume the administrative burden and financial risk associated with being a seller of record for these online transactions,” said Joel Ronning, Digital River’s CEO. “Through this new solution, we are unbundling a valuable component of our global e-commerce system and packaging it up with more than 15 years of tax management experience to make it available to Google Play merchants.”
With tax regulations changing on a regular basis as well as varying from country-to-country and state-to-state, compliance administration can be a complicated and resource-intensive process. This includes the management of reporting, reconciliation and remittance obligations. In a recent international survey commissioned by Digital River, a group of senior decision makers from several high-tech markets identified some of their most significant global e-commerce challenges. They reported tax and compliance issues as having the “highest degree of difficulty” with 65 percent of respondents rating it as significantly challenging.
To help address these challenges, Digital River’s new tax management solution for Google Play includes:
- A simple software development kit (SDK) to broker merchants’ in-app transactions;
- A plug and play process that automatically downloads transactions into Digital River’s tax management solution;
- An advanced global tax engine that automatically calculates and remits the correct tax amount for each Google Play transaction to the applicable states and countries;
- End-to-end reporting capabilities that provide details on each Google Play transaction, including the tax calculation and the tax amount remitted to each state and country; and
- Automatic updates to the tax management engine that ensure tax calculations stay current with and reflect changing regulatory obligations.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV