Taxware Enterprise (TWE) 8.4 Has Achieved Oracle Validated Integration with Oracle E-Business Suite Financials 12.2! Oracle E-Business Suite 12.2 users will now have full access to Taxware’s determination and reporting tools to help streamline sales and use tax compliance. Through this integration, Oracle E-Business Suite 12.2 users have full access to Taxware’s determination and reporting […]
A recent survey sponsored by document management firm RR Donnelly and published by CFO Research found information security often takes a backseat compared to productivity. In regard to tax reporting, the implications of the survey have serious ramifications, as security breaches could lead to the loss of tax identification numbers (TINs) and other sensitive data. The researchers […]
Value-Added Taxes Are Complex Value-Added Tax (VAT) is tax that is levied at every stage of the supply chain, on both goods and services. Every major economy except the United States (US) levies a form of VAT and each does so with its own set of rules for compliance and reporting. Apart from compliance, processing, […]
Recently, Puerto Rico made some important changes to their filing processes that affect all businesses selling goods and services into that territory. The changes are happening so rapidly that we set up an online Puerto Rico Sales Tax Changes Resource Center with news updates, FAQs and white papers to help businesses to better understand the latest rules […]
At times, errors in tax compliance processes are simple mistakes rather than misguided ideas about regulations or negligence. While these are honest mistakes, they can still lead to penalties from the IRS. A recent study that will be published in the Journal of Applied Psychology determined the chances of employees forgoing key compliance rules increases as they […]
View our Puerto Rico Sales Tax Changes Resource Center with news updates, FAQs and whitepapers to help you to better understand the latest rules and regulations. New Sales Tax Filing Alternative in Puerto Rico Announced September 19, 2014 Due to technical difficulties in the new Portal Integrado del Comerciante (PICO) system and other factors, the Treasury Department […]
As in other Latin America countries, the transactional signing of standardized XML is always implemented with a corresponding reporting element. Brazil has Nota Fiscal and SPED. Chile has DTE and Libros. And now Mexico has CFDI and electronic books.
Here is another answer in our Ask a Tax Expert Series, where our team of 40+ Tax Experts respond to your questions. Question: Charging Puerto Rico Sales Tax When Using 3rd Party Carrier? “We are an internet retailer that uses a third-party carrier to deliver products to Puerto Rico residents. Due to the recent Tax […]
A little more than a month after the IRS released draft versions of tax information reporting forms under the Affordable Care Act (ACA), the agency has published draft instructions for the forms. When the forms were released, several industry groups awaited the arrival of the accompanying instructions so they could better understand their reporting obligations, The […]
The Permanent Internet Tax Freedom Act (PITFA) was passed by the U.S. House of Representatives on Jul. 15 and called for a permanent extension on the moratorium on taxes levied on Internet access. This moratorium is set to expire Nov. 1, and a coalition of 42 national and state organizations have urged the U.S. Senate […]
Making Your Summit Experience a Learning Opportunity Unlock the full potential of your Taxware applications with hands-on training sessions at our User Summit in October. October 22nd – 24th Hyatt Regency Grand Cypress Orlando, FL Mark your calendar as busy on October 22-24: they are the official dates for the Taxware User Summit 2014. We are a […]
Supply chain finance is a method of business transaction that’s gained notoriety and popularity within the electronic invoicing vendor world. There are three core elements to SCF – a supplier, buyer and financial institution. With each relying on the other, the ultimate goal is to optimize the relationship between the supplier and the buyer […]
*This is part 3 of a four part blog series addressing the nexus and sourcing issues associated with sales tax and cloud computing. In part 1, we addressed what the cloud is and in part 2 we discussed why businesses should concern themselves with cloud based transactions. The following discussion will address sourcing issues and rules […]
The U.S. Treasury Department recently released its 2014 to 2015 Priority Guidance Plan. The document included a note that the IRS would provide guidance under sections 119 and 132 of the Internal Revenue Code (IRC) regarding employer-sponsored meals. The issue of free employee meals has recently come to the fore because the agency has begun cracking down […]
It’s been a year of heightened regulatory scrutiny for Latin American business owners, as laws are now on the books that require entrepreneurs to establish an electronic invoicing system. Thus far, it’s turning out to be a program that’s paying off for governments, most notably in Mexico. Through the first six months of 2014, […]
How to Make Smarter Use of Your Tax Resources Is your team being consumed by sales and use tax filing? To find out, answer these three questions: Is your tax department struggling to keep up with the dynamic tax rules, rate changes, new forms and requirements associated with filing sales and use taxes? Is your time being […]
An Emphasis on Renewable Energy fuels Tax Incentives With recent variable energy prices and continued concerns about global warming, there has been a major emphasis on creating more alternative sources of energy. Geothermal, wind, solar, and other sources of clean, renewable power are currently the most popular forms of alternate energy. According to the Renewable […]
A recent report from the Treasury Inspector General for Tax Administration (TIGTA) said the IRS needs to make changes to its medical device excise tax program, which is part of the Affordable Care Act (ACA). The recommended improvements will serve to ensure accurate tax information reporting and payment of the tax. The report included an […]