Companies have begun to transfer financial processes to the digital environment as a result of technological developments in recent years. Business efficiency has increased through the financial processes regulated via e-transformation applications. The e-transformation system in Turkey covers applications such as e-invoice, e-ledger, e-arşiv, e-ticket, e-reconciliation, and e-delivery note. Mandate scope of e-arşiv invoice According […]
Many insurers still depend on legacy systems to file insurance premium tax (IPT). Whilst cost is sometimes the reason for this decision, some organisations simply don’t prioritise technology upgrades, instead, choosing to focus on initiatives that improve the customer experience or other business workflows. Can this situation continue? Unlikely for much longer, as more tax […]
Prior to the South Dakota v. Wayfair, Inc. decision, Rhode Island had already enacted legislation related to economic nexus and remote sellers. Effective August 17, 2017, remote sellers needed to comply with certain registration or notice requirements depending on whether the seller qualified as a “non-collecting retailer,” a “retail sale facilitator,” or a “referrer.” Depending […]
How much can I expect to spend on holiday shopping this year? Well, that may depend on where you live and shop. You see, your location can play a huge role in dictating the final price of an item. This is due to the fluctuation in sales tax rates across the country at both the […]
This blog was last updated on July 19, 2024. The South Dakota v. Wayfair, Inc. Supreme Court decision allowed states to require sellers with no physical presence to collect and remit sales tax if they have an economic nexus with the taxing state. Indiana responded by enacting an economic nexus law like the one upheld […]
While there is no state-wide Alaska sales tax, numerous local cities and boroughs have their own sales tax ordinances. After the South Dakota v. Wayfair, Inc. decision, several of these local governments established the Alaska Remote Seller Sales Tax Commission and adopted the Uniform Alaska Remote Seller Sales Tax Code to have a system to […]
By Kelsey O’Gorman & Denise Hatem In the United States, food is the third-largest expense for lower-income households, after housing and transportation. For higher-income households, food ranks fifth, following housing, transportation, pension contributions and health care. While income disparity can skew percentages of spending on essential items such as food and housing, there are also […]
Idaho is one of many states to impose collection requirements on sellers with economic nexus following the South Dakota v. Wayfair, Inc. decision. The details of the Idaho economic nexus standard are found below. Enforcement date: June 1, 2019. Sales/transactions threshold: $100,000. Measurement period: Threshold applies to the previous or current calendar year. Included transactions/sales: […]
The South Dakota v. Wayfair, Inc. decision paved the way for many states to implement economic nexus requirements. Prior to Wayfair, Alabama had its own “economic nexus” collection requirement under Rule 810-6-2-.90.03. With Wayfair, Alabama no longer has a constitutional obstacle to enforcing its rule. Below, we’ve highlighted the major points of the Alabama economic […]
We last reviewed the SAF-T global situation over a year ago, and in that time there have been many changes and proposals especially across the EU. Let’s look at what’s changed since then, as well as what to expect over the next year or two. A refresher What is SAF-T? The Standard Audit File for […]
Following the South Dakota v. Wayfair, Inc. decision, the majority of the country has started to adopt its own economic nexus laws on a state-by-state basis. However, there are a small number of states that have not enacted any such legislation. For example, there is no sales tax nexus in Montana because Montana has no […]
We’ve previously discussed the Louisiana economic nexus sales tax, and how remote sellers will need to collect and remit all state and local sales taxes on their sales into the state once certain thresholds are met. In the wake of South Dakota v. Wayfair, Inc., the state created a new Louisiana Sales and Use Tax […]
Incentive law numbered 7252 was published in the Official Gazette for private sector employers on 28 July 2020. Thanks to this law, private sector employers who applied for short work allowance (SWA) and cash wage support before July 2020 and whose short-time working ended will be able to benefit from financial support. How to claim […]
Find out why it makes sense to invest in tech and automation to streamline tax processes and alleviate the burdens finance teams face. The shift towards digitisation necessitates a radical adaption and shift in existing tech for industries across the board. As this occurs, tensions and anxieties rise around automation and job losses. With Oxford […]
There are many different avenues an insurer can use to write insurance business. These include brokers, intermediaries and managing agents to name a few. When using a third party and looking at the rules around insurance premium tax (IPT) calculation and submission by each of the tax authorities, it can be difficult to know how […]
The Kentucky sales tax nexus is one example of how states have started to evolve their economic nexus requirements after the South Dakota v. Wayfair, Inc. decision. Kentucky adopted HB 487, which kept the same thresholds as were in the Wayfair case. Even so, we have outlined key points for remote sellers and marketplace facilitators […]
This blog was last updated on July 18, 2024. The South Dakota v. Wayfair, Inc. decision impacted how numerous states require businesses to collect and remit sales tax. The economic nexus in Maine is one such example. However, Maine enacted its own statute prior to Wayfair, saying that “a person selling tangible personal property, products […]
The wine market is in greater flux than ever as producers, retailers and consumers navigate the impacts of a global pandemic. Keeping a pulse on marketplace data has never been so important given these shifting dynamics. Nielsen is collaborating with Wines Vines Analytics and Sovos ShipCompliant to provide a much more comprehensive view of the […]