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 […]
I get a lot of questions on the differences between Latin America electronic invoicing in comparison to other regions of the world. And one of the confusing points for many people is the concept of “Contingency” – the question that comes up from many is – if I am forced to go electronic, why is […]
Microsoft Dynamics’ business solutions have long offered their customers customizable, user-friendly ways to better manage their end-to-end company processes. Manufacturing or retail, e-commerce or the public sector, Microsoft Dynamics is increasingly compelling for businesses to better manage and meet company goals. In an effort to best accommodate this exciting and fast-growing ERP, Taxware is […]
Value Added Tax (VAT) is the most prevalent type of consumption tax in the world. The tax is assessed on the sales or purchase price of merchandise or services. Most countries in the world have adopted VAT and apply VAT to both goods and services. In fact, some countries use the name goods and services […]
In a recent article, I discussed the concept of eSocial in Brazil – a new real-time integration requirement that will be focused on payroll taxes among other human resource issues. Well, Mexico actually has beaten Brazil to the market with the requirement of Electronic Payroll Receipts as of January 1, 2014. In Brazil, eSocial will […]