Money settlement to Tax Agencies.
Under Delivered Duty Paid (DDP), the seller must absorb the costs associated with customs clearance. As a payments facilitator, Plusius enables customs duties and VAT collection at checkout along with clearance with the tax agencies. Like in the case with EVRi, this allows sellers to charge buyers for the duty and tax at checkout and ensure direct parcel delivery.
Benefits of optimized automated customs clearance are:
For a long time, logistics companies have been searching how to ensure that duty and tax are paid by the consumers at the point of sale and guaranteed with the customs declarants. Client funds management requires a financial license.
An issue with customs clearance is having guaranteed customs declarants to declare taxes.
Besides financial services, Plusius has optimized and automated the Delivered Duty Unpaid (DDU) flows and Delivered Duty Paid (DDP) clearance for smooth finance management. The money is settled to all Tax Agencies across the EU and UK for IOSS Tax Payments.
Digital platform businesses partnering with us contribute to supply chain optimization and lead to the following market shifts:
Merchants no longer receive returned parcels from customs declarants due to unpaid duties and taxes.
Couriers reduce the large number of parcels that arrive at the border waiting for recipients to pay their duty and tax on import.
PSPs face an increase in the ''take rate'' with IOSS and VAT collection at checkout at about 19% more revenue depending on the customer's country of residence as it may range up to 27%. The ''take rate'' can also include both VAT and TOLL fees leading to organic growth.