Digital River, Inc. (DRIV) recently announced the launch of a new online tax management solution, which will benefit digital content publishers who operate through the Google Play Store.
This complete online tax management solution will facilitate automatic tax calculation and remission for online Google Play transactions in over 30 countries.
Along with providing tax management services, Digital River will also take on the administrative burden and financial risk associated with the sale of online transaction record.
With the launch of this new online tax solution, Digital River will offer a valuable component of its global e-commerce system for its Google Play merchants.
As tax regulations differ in various countries, compliance administration becomes a challenging process involving costs and complications. This new solution from Digital River will simplify the process for Google Play merchants.
The new tax management solution includes a simple software development kit ( SDK) for broker merchants along with a plug-and-play process, which automatically downloads transactions into the tax management solution. In addition, the solution also provides a sophisticated global tax engine, which facilitates calculation and remittance of the correct tax amount for each Google Play transaction to the applicable states and countries.
The users will also have access to details of each Google Play transaction, including tax calculation and the tax amount remitted to each state and country. The solution also enables automatic updates to the tax management engine that ensure tax calculations in compliance with the current regulatory obligations.
Continuous innovation of its business solution to assist companies’ in managing their online business has been a hallmark of Digital River and we expect the company to sustain this trend going forward.
We continue to maintain a Neutral recommendation on Digital River. Our recommendation is supported by a Zacks #3 Rank, which translates into a short-term rating of Hold.
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