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About Tax APIs
No government can be able to sustain itself without collecting tax. Funding public programs, education, health, infrastructure, and government investments require taxes. Thus, tax administrators have to ensure that every company pays and files their taxes depending on the country of operation.
Tax computation is sometimes a slippery concept, especially for small businesses and startups. While many companies may get obsessed with their business growth and marketing campaigns it is easy to forget tax. Failure to make tax remittances on-time results in payment of expensive fees and penalties.
Therefore, organizations have resulted in the use of software and tools that assist them in tax computations. Such tools include the use of tax APIs. A tax API is a set of commands that build a tax interface to assist you in tax calculations and compliance requirements.
How tax APIs works
Generally speaking, you must create an account with the API platform and request an API key and token authentication. The API key and token grant you access to the API platform and authenticate every action you perform on the API.
Users of the Tax API
Developers use the APIs to create an income tax calculator API for finance departments to compute income tax. Sales teams use sales tax API to determine tax levels for different products, locations, and destinations.
The use of tax calculator APIs helps e-commerce businesses to compute VAT. Multinational corporations use tax rate API in determining taxes for their transactions in various jurisdictions.
Governments use APIs when implementing tax relief for different products and sectors of the economy.
- Income tax APIs provide real-time calculations for different employment categories, federal, state, or self-employed.
- Tax rate APIs help to differentiate deductible tax for business and personal expenses.
- Sales tax API assist in creating and validating reseller certificates and store sales tax exemptions.
- Tax calculator API ensures proper record-keeping for tax compliance.
- Tax administrators apply the various APIs for efficiency in their operations
Developers shall continue to make APIs help businesses remain tax compliant. With many categories of tax, developers shall build different APIs to avoid under or over taxation.
Free examples include Avalara, TaxCloud, Zip tax, Taxrates.io, Sales tax rates, and Border Solutions.
Tax API SDKs
All Tax APIs are supported and made available in multiple developer programming languages and SDKs including:
- Java (Android)
- C# (.NET)
Just select your preference from any API endpoints page.
Sign up today for free on RapidAPI to begin using Tax APIs!