The good news is that many multinationals have realized that Enough is Enough and have moved or are moving away from a strategy that requires continuous changes to their ERP system to support the constantly changing Nota Fiscal requirements in Brazil The Bad News is that there are still too many IT Execs who […]
In an effort to combat the often devastating effect of unnecessary litter and protect clean waterways and wildlife, several localities around the state of Washington have turned to plastic bag bans and fees on single use paper bags to encourage the use of reusable shopping bags. The majority of Washington localities with single use bag […]
Tax information reporting under the Affordable Care Act (ACA) is understandably confusing. There are new obligations, and many internal stakeholders within an organization could be seen as responsible for some part of the ACA reporting process. There are a lot of new forms that need to be processed and mailed. Some of these forms include […]
While most of us have been watching with close interest the events that have been unfolding in the Ukraine over the past few months, Taxware has been paying particularly close attention to the potential indirect tax ramifications of the shifting political landscape. The changes for taxpayers located in the region of Crimea and in the […]
State reporting can be an arduous task. Each state has an ‘Employer Withholding Guide’ (or a similar framework for instructions) that provides information regarding payment and reporting of the withholding tax which is unique to that state. The challenges of state reporting can be boiled down to the following premise: the information detailed in state […]
With the changes in Brazil set to take effect in December of 2014 and Chile mandates coming even earlier – November 2014, don’t forget about the other mandated countries – specifically Argentina. There are currently more than 300,000 companies that were mandated to transition to electronic invoicing between April and August of 2014 and […]
The tax reform in China that replaces Business Tax with Value Added Tax (B2V) for the service industry continues to build momentum. A pilot program to apply Value Added Tax (VAT) to designated service sectors began on January 1, 2012 and has been expanding its scope ever since. As mentioned in a previous article, “China’s VAT Reform“, […]
Tax information reporting under the Affordable Care Act (ACA) requires that insurance providers and large employers with 50 or more full-time employees report to the IRS on their health coverage offerings for their members and employees. Some of these companies are experiencing confusion regarding when reporting is necessary – and many are scrambling to determine which internal department will […]
How to Calculate Tax on a Lease Most people are familiar with leasing a car, but did you also know you can lease an airplane, a copier, or a computer? Leasing is commonly defined as an agreement between a lessor and a lessee, where the lessor conveys the right to use an asset for an […]
Taxware releases the Official 2014 List of State Sales Tax Holidays. Every year, many states participate in Sales Tax Holidays intended to boost economic activity. Many of these holidays take place during the back-to-school shopping season. It is important to note that sales tax holidays frequently apply only to certain types of purchases and that […]
Tax reporting for large employers under the Affordable Care Act (ACA) enforces Internal Revenue Code (IRC) 4980H, the employer mandate of the health care law. According to Bloomberg BNA, Stephen Tackney, IRS deputy associate chief counsel of employee benefits, says that many are wondering why so much reporting is necessary. “We still get questions why all […]
One of the most common sales tax questions, heard over and over from businesses providing products and services in Illinois is – What is this 8% tax in Chicago? That 8% tax is the Chicago Personal Property Lease Transaction Tax. The tax applies to personal property leases or rentals in Chicago, or to personal property […]
The Affordable Care Act (ACA) will present many challenges for businesses due to the new tax information reporting responsibilities. Some have pondered whether insurance companies will provide ACA reporting services to these businesses, especially for their self-insured clients. Self-insured companies will be reporting as both insurers and employers. Therefore, they will be required to do […]
Several companies are vying for one of the first casino licenses to be made available in Massachusetts. Two of the competitors, Las Vegas-based Wynn and MGM, are appealing to legislators to amend the state’s income tax laws, which according to Wynn and MGM, will be bad for business. According to The Associated Press, the two […]
I wanted to give a quick update on the Manifestação do Destinatário business process in Brazil as there have been a lot of questions lately on the topic. For many companies, this is now becoming mandatory. As one example, the legislation has been defined by the the states – both Rio Grande del Sul and […]