Taxes and invoices - Frequently asked questions

SWAPD · January 20, 2021, 6:11pm

SWAPD, acting as the Merchant of Record (MoR) under VEYYO Limited Partnership (Canada), is solely responsible for issuing invoices for all transactions conducted on our platform. Subcontractors are not required to issue invoices to buyers. All tax compliance, VAT handling, and invoicing obligations tied to SWAPD’s services are handled directly by VEYYO Limited Partnership.

Important notes:

For B2B clients in the EU, invoices are issued under the reverse-charge mechanism in accordance with the EU VAT Directive.
For Canadian clients, GST/HST invoices are not yet available pending registration. Until registration is complete, Canadian buyers will receive transaction summaries only.
Invoices must be requested while the checkout ticket is still open. Once a ticket is closed, VEYYO Limited Partnership does not issue invoices retroactively.
To request an invoice, buyers must provide their VEYYO.com client membership email in the checkout ticket. If you do not have a VEYYO account, please visit VEYYO.com, click Client Area (Canada), register, complete your details, and provide the email you registered with inside the checkout ticket. All future invoices will be automatically stored in your client area.
Refunds: All refunds are subject to a 1% refund processing fee.
Payments: All transactions processed on SWAPD carry a 1% payment processing fee, in addition to SWAPD’s regular transaction fee.
Tickets opened via the Trustap payment method are not eligible for invoices. SWAPD does not issue invoices for Trustap transactions, as Trustap handles the funds directly.

Frequently asked questions

How are transactions conducted on SWAPD? (Click to expand)

How are transactions conducted on SWAPD?

SWAPD (as MoR) bills the buyer for the full amount at the start of the checkout ticket. Once the transaction terms are met, VEYYO Limited Partnership disburses funds to the subcontractor after applying the following deductions:

SWAPD fee. Transaction fees vary (2–11%) depending on item/service type, transaction amount, and membership level.
Money transfer fees. These are costs charged by banks or blockchain networks for moving funds.
1% payment processing fee. Applied to every transaction.

After settlement, SWAPD issues invoices for its fee as MoR (upon request). For EU B2B clients, invoices will include a reverse-charge note. For Canadian clients, GST/HST invoices are not yet available pending registration. Until registration is complete, we cannot process Canadian invoices.

Important: Invoices must be requested while the checkout ticket is still open, and the buyer must provide a valid VEYYO.com client membership email. Once the ticket closes, no invoices can be issued.

Do subcontractors still need to issue invoices?

No. SWAPD, acting as MoR, is the sole issuer of invoices. Subcontractors only receive payouts from VEYYO and are not responsible for invoicing buyers.

What are the legal requirements for SWAPD invoices?

EU: Invoices are compliant with the EU VAT Directive. B2B invoices are issued with the reverse-charge mechanism applied.
Canada: GST/HST invoices will be issued once VEYYO Limited Partnership completes registration. Until then, only transaction summaries are available.
Other regions: SWAPD issues taxable invoices for its fees as MoR in line with local regulations.

How do I obtain an invoice?

To obtain an invoice:

Request it while your checkout ticket is still open.
Provide your VEYYO.com client membership email in the ticket.
- If you do not yet have an account, register at VEYYO.com → Client Area (Canada) → fill in your details → provide that email in the checkout ticket.
Once linked, all your invoices will be automatically stored and accessible in your VEYYO client area.

Once a checkout ticket is closed, invoices cannot be issued retroactively.

What information is included on a SWAPD invoice?

Invoices issued by SWAPD (VEYYO LP) as MoR include:

Buyer details (name and email from VEYYO Client Area).
SWAPD / VEYYO company details.
Applicable VAT/TAX ID references (if required).
Checkout ticket number (transaction reference).
Date, amount, and a clear breakdown of SWAPD fees and charges (including 1% processing fee).
Notes on VAT treatment (e.g., “Reverse charge” for EU B2B).

What is the refund policy?

All refunds are subject to a 1% refund processing fee. For transactions above 5,000 USD, SWAPD subcontractors may cover this fee upon request. Refunds are final once processed.