Terminology

Concept	Description
Seller	An entity that sells to the buyers.
Buyer	An entity that purchases from sellers.
Transaction	Typically represents a single sale (for example during checkout). A transaction consists of one or more lines.
Transaction line	Represents a particular item sold, for example shoes. The API will calculate tax and determine tax liability for each line.
Stored transaction	A transaction that has been persisted in the Taxamo database. It can be stored in either "New" or "Confirmed" states. Transactions are stored to facilitate functions such as invoice generation/refunds.
Line Item Liability Assignment (LILA)	A feature used to determine which party has the tax liability. It is assessed at a line item level. The values returned include Taxamo, buyer, or a code that represents the seller.
Payment Service Provider (PSP)	A third party who settles payments.
IOSS	Import One Stop Shop (IOSS) is a new special scheme for reporting distance sales of goods imported from outside the EU.
Taxamo Assure by Vertex	A service that you can use to process tax for physical goods to the EU that are valued up to €150.
Endpoint	A URL that represents an object in the API.
Request	A combination of a method such as POST , an endpoint (URL), headers and payload (JSON request and response bodies). For example, a POST method, the Calculate tax (`/api/v3/seller/tax/calculate`) endpoint, and the information specified in the request objects in the body.
JSON Object	An object in a request body that groups fields together. For example, the Transaction JSON object.