Legal requirements
amiuhle opened this issue · 2 comments
What's necessary to meet legal requirements? I'm thinking about taxes, but there might be more to consider.
Kasisto will expect some existing receipt from another system, most likely printed. When a seller creates a payment request with Kasisto, they will be able to enter an associated receipt id. This could be via keyboard input, taking a picture of the receipt or scanning a barcode containing the receipt id.
Considering the seller can print a payment confirmation for the buyer and can export or print a transaction history for themselves, would this be sufficient to meet legal requirements?
If it's some specific issue, e.g. a certain country, please provide details.
Some jurisdictions do not impose a sales tax, while others do. Some include the tax within the price (VAT), in others, the tax appear as a separate line item charge. In some jurisdictions, there are different types of taxes that are collected for a city, district, or state.
The easiest thing to do is to have an option where users could manually enter tax rates.
Alternatively, you could also integrate Kasisto with a tax compliance service like Taxjar. Taxjar supports sales tax calculations from many countries around the world.
EDIT
Taxjar API repo: https://github.com/taxjar
I'll have the chance to talk with one of the founders of Blockpay.ch at the beginning of April and will ask him about this. They have created a POS system for other cryptocurrencies and I am pretty sure they have already answered these questions for themselves.