Marketplace VAT Regulation

As of 1 July 2021, new rules have been put into place regarding VAT liabilities in the European Union. Part of the new legislation outlines that some marketplaces and merchants (sellers) have to comply with these new rules. These rules according to the EU will simplify life for traders and be more transparent for consumers.

For more information, consult:

European Commission
Lemonway Article

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Setup a VAT Wallet

If you are an existing Lemonway partner and would like a dedicated payment wallet to store your merchant's VAT please contact a member of our support team.

Suggested Implementation

1. You withhold the appropriate VAT from the merchant's payment by making a P2P transfer to your Lemonway VAT Wallet.
2. When required, you can make a Money-out transfer from your VAT Wallet to your company bank account.