Email Contact Us

Access Leading Tax Experts And Technology
In Our Global Digital Marketplace

Please Type Topic Into Search Bar

How Can We Stay Compliant With Sales And Use Taxes?

Sales & Use Tax Transaction Tax
TaxConnections Members... Answer This Question Want To be One of Our Tax Experts? Register Here

Tax Professional Answers

User Photo
Brian Weaver, CPA, MBA
With over 10,000 taxing jurisdictions in the US and 200+ countries that impose transaction taxes, in a typical year, there are over 1,000 tax rate changes along with numerous tax law and rule changes, so staying current is a difficult proposition. The right processes, systems, and people need to be in place and working as intended for the organization to stay compliant. The right tools need to be in place to give the tax department the information they need to effectively do their jobs. As a starting point, a diagnostic review is recommended to identify areas of potential transaction tax non-compliance. By reviewing the company’s information sources and systems, conducting interviews, reviewing documentation, data, workflow, and pain points, a good indication of the current state can be obtained. At the conclusion of the diagnostic phase, a diagnostic report will be provided that summarizes the results of the evaluation of the organization’s existing transaction tax policies and procedures, problem areas, and recommendations for enhancing the transaction tax compliance process, including an estimate of the required work effort and the path forward.
Leave a Comment 308 weeks ago

 

View/Select our Current List of Tax Topics

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Previous PageNext Page

Contact Us Today