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 […]
Among the businesses to have new tax information reporting responsibilities under the Affordable Care Act (ACA), insurers could be faced with a broad range of new challenges. Given their status as both insurers and employers, their reporting obligations are two-fold. Internal Revenue Code (IRC) 6055 and 6056 establish the new information reporting responsibilities for ACA. […]
Last year, Governor Butch Otter signed a bill that was intended to exempt cloud computing services. The Idaho Tax Commission narrowly interpreted the legislation, which effectively taxed many types of software services. Otter did not believe this followed the intent of the legislation, so earlier this month he
The new tax information reporting requirements under the Affordable Care Act (ACA) are expected to affect many businesses. For those businesses that are self-insured, they are anticipated to have some of the heaviest reporting responsibilities given that they fall under the new ACA reporting requirements as both a large employer and an insurer. There are […]
If you missed our Webinar on Indirect taxes in Brazil, you can view the recorded webinar at http://lnkd.in/dNyEmWi. When traveling internationally, it is imperative to research your destination prior to departure. The same is true for those planning to conduct business internationally. Are you aware of the complex sales and use tax implications of doing […]
Electronic invoicing in Latin America is not just about operational issues, it is about risk and financial exposure. Recently, Citigroup, Inc. announced that fraudulent invoices in their Mexico operation forced the company to adjust their 2013 profits by $235 million dollars.
The Michigan legislature recently passed H.B. 4831. Effective March 14, 2014, the bill exempts from sales tax over-the-counter (OTC) drugs purchased pursuant to a prescription. Although true for sales tax, H.B. 4831 does not equally exempt the purchase of OTC drugs from use tax. While this might seem like an innocuous distinction, this lack of unity […]
When I mention Nota Fiscal, companies are often looking at the Account Receivable side of the operations due to the impact on Shipping and customer payments. However, there are many advantages that should and can be obtained in the Procure to Pay process. Often organizations explain to our teams that inbound validation is still manual. […]
In Mexico, many organizations implemented non-integrated solutions provided by local signature providers. Now after the first 3 months, the problems we were alluding to are starting to show up. In my previous blog, I wrote about the complexity of Addenda which continue to take on new forms of complexity. Today, I want to go back […]
Over 500,000 organizations rushed to get solutions in place by the January 1, 2014 electronic invoicing deadlines in Mexico. Now after the first 3 months, the problems we were expecting companies to experience who chose the lowest cost local solutions are starting to show up. (FYI – Our customers are doing great.) For this blog, […]
Businesses are a major revenue source for taxing authorities in the U.S. and around the world, and the taxability issues are particularly tricky. Sales and use tax changes have a tremendous impact on every business’ ability to remain compliant with every jurisdiction; and rules are being added and changed every day. Download our Infographic to learn more about those […]
The Chile SII officially published the electronic invoicing mandate in the Official Gazette, mandatory use of the Electronic Tax Document (DTE). The rollout will take place over 3 years and will be based on revenue tiers.
Reading is unquestionably fundamental, but the taxation of reading material is anything but that. Organizations that sell publications (newspapers, magazines, books, and alike) face a variety of taxation challenges both domestically and internationally. Those challenges are only growing as we continue to move into the electronic age where print media yields to its digital equivalent. […]
Eventhough the latest NFe 3.1 deadline is approaching, there are still a lot of companies that don’t fully understand the required upgrades in Brazil. So in short, here is a quick overview of 3.10 requirements as well as what we are seeing from project length and staffing.
Today I was speaking with a Fortune 100 company who was looking at their Inbound Validation processes and trying to decide whether automation would be required. My answer was a resounding yes, but more often than not – I see multinationals doing the inbound validation of supplier and business partner XML through manual processes. I […]
IIllinois, as well as Chicago, generally follows origin based sourcing. Illinois Dept. of Rev. General Information Letter ST 00-0020-GIL, 01/26/2000. Until the recent Illinois Supreme Court Hartney decision, which we will discuss below, Illinois law provided that a sale is sourced to the seller’s place of business that: Makes a complete and unconditional offer to […]