Understory applies VAT to both the booking fee and the subscription fee, with the rate depending on your business location:
Denmark: A 25% Danish VAT is added, but can be reclaimed by VAT-registered businesses.
EU: If your VAT number is valid for EU trade (verified via VIES), the reverse charge mechanism applies. If invalid, a 25% Danish VAT is charged
Outside the EU: No VAT is applied.
Where to Find Your VAT Information
You can view and update your VAT details in your Understory account. You can see your info under Settings -> Billing. For EU businesses, a small icon next to your VAT number indicates if your VAT is valid for EU trade or not, which will determine the VAT rate applied to you.
Where to Find VAT Invoices
From mid-April, you can download monthly invoices directly from your Understory account. You can see your invoices under Settings -> Billing. These invoices contain all the details needed for VAT reporting. Going forward, these invoices will be automatically generated on the 3rd of each month.