Avalara has acquired Belgium-based VAT Applications, makers of the iVAT suite of VAT compliance software. The Bainbridge Island-based company secured $100 million in funding late last year to expand its international presence, plus another $42 million this year.
“Our goal is to offer the most comprehensive portfolio of cloud-based tax compliance solutions on the planet, and adding the iVAT portfolio is a big step in that direction,” Avalara CEO Scott McFarlane said in a press release.
iVAT offers an automated value-added tax compliance service for filing returns in the right language across the European Union. While Avalara already provides VAT calculations in more than 190 countries, the automation will help reduce the stress of tax compliance even further.
“Filing VAT returns for goods and services sold in a single EU country is pretty straightforward, but cross-border transactions are extremely complex,” said Avalara vice president of global tax Richard Asquith.
The new acquisition will bring iVAT solutions to featured sections of VATLive.com, Avalara’s free online resource for tax news and rates.
This is the fourth acquisition for Avalara this year. Earlier this month, it bought telecommunications tax compliance specialists EZTax. Before that, it purchased Brazilian-based SuitePlus to bring service to the South American country. It also acquired HotSpot Tax to bring service to the vacation rental market.