ABOUT US

We are a thinking platform that is building the next generation of sustainable, clever & innovative solutions. We take on risky, disruptive and complicated projects to test the limit of our imagination.

iVAT

The iVATproject offers a solution to Governments to collect VAT/GST from offshore online sales. It establishes a digital link between Governments, Banks and Checkouts. Offshore transaction data flows seamlessly between the banks and a secure government portal, both located in the same taxing jurisdiction. Based on the self-assessment model, tax is paid by consumers residing in a given tax jurisdiction via the government portal.
Try out the demo here.

 


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How Demo Works

Step 1

iVATPortal

The iVATportal is a secure VAT gateway managed by governments. Based on your country of residence a unique 16 digit iVATnumber is issued to citizens. Consumers can pay their VAT via the portal.

 


Sign up

Step 2

Bank

The Bank issues to its customers a credit card that can be used to make an offshore online purchase. Pair your iVATnumber with your bank account by signing up to an emulated BigBANK.

 


Sign up

Step 3

Online store

Go to an emulated online store, Buystuff.com, and pay using your card issued by the Bigbank. Simple as that. Any VAT incurred on a foreign transaction automatically appears on the iVATportal, which you can pay anytime you like.

 

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