Castler closes Pre-Series A funding of $6 Million led by Flipkart, Capital 2B, IIFL Fintech Fund, Venture Catalysts & Zerodha

How does a cross-border escrow service handle transactions involving different types of taxes and tariffs?

A cross-border escrow service, such as Castler’s Digital Identifier system, handles transactions involving different types of taxes and tariffs by ensuring that all parties involved in the transaction are aware of the tax and tariff implications. The system provides a secure platform for buyers and sellers to conduct transactions, and it also provides a mechanism for the payment of taxes and tariffs.

When a buyer and seller agree to use the Castler Digital Identifier system, they agree to the terms of the transaction, including any taxes and tariffs that may be applicable. The system then calculates the taxes and tariffs based on the transaction details and ensures that the appropriate amounts are paid.

The system also provides transparency and accountability, as all parties can track the progress of the transaction and see when taxes and tariffs have been paid. This helps to prevent disputes and ensures that the transaction is completed smoothly.

Overall, a cross-border escrow service such as Castler’s Digital Identifier system provides a secure and efficient way to handle transactions involving different types of taxes and tariffs, ensuring that all parties are aware of the implications and that the transaction is completed successfully.