When Implementing A New Tax System, What Areas Should We Look At And What Tasks Need To Be Performed?
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Tax Professional Answers
Brian Weaver, CPA, MBA
Before implementing a new tax system, companies must first formulate a plan to address how the change will affect the company as a whole, who will be involved in the change, who will be affected by the change, and how long the changeover will take. The impact that a transaction tax system has on the company as a whole is often underestimated. Since sales and use taxes affect virtually all financial and business operations, a decision should not be entered into without a thorough plan.Leave a Comment 153 weeks ago