Sales Tax Compliance – 3 Top Stories of the Week

Alex Forbes
October 9, 2017

This week we look at three interesting sales tax compliance articles from around the Web you may have missed while manually looking up tax rates, entering exemption certificates for new customers or submitting IT help requests for changes to your ERP.

1. Over at FEI Daily, Tom Nicolosi and Carey Oven discussed the many reasons why compliance modernization evades some organizations and six questions finance executives should be asking.

If you’re still looking at compliance as a cost center and not a revenue driver, or reactively solving issues as they pop up, this may be an eye opening read for you. To learn more about these challenges and the six questions finance executives should be asking of compliance teams, check it out:

Modernizing Compliance: 6 Questions Every Finance Executive Should Be Asking

2. James Paterson, VP and GM of Wolters Kluwer Tax Accounting North America, recently discussed what business leaders don’t know about their sales tax compliance.

Much like the Sovos infographic outlining the hidden costs of sales tax compliance on IT and the value a cloud-based solution brings to the table, Top 10 Advantages of Cloud Sales and Use Tax Software for IT, Paterson points out “many executives don’t realize the role IT plays in fulfilling their sales and use tax obligations.”

He lays out a four-step plan to make sure executives are communicating properly with their Tax and IT teams and are properly prepared for the impending storm of regulations to collect sales and use taxes. Check it out:

What Business Leaders Don’t Know About Their Sales Tax Compliance

3. Our own regulatory analysis team constantly tracks legislation that may have a significant impact on your business. If you subscribe to our free regulatory updates feed you may have seen a Massachusetts judge has ordered Amazon.com to disclose the identity of all third-party sellers who stored inventory in the Amazon warehouse facility in Massachusetts going back to 2012. If your organization uses the Amazon Marketplace or otherwise has nexus with Massachusetts but are not yet collecting, check it out:

Massachusetts Requests Data on Amazon Sellers in Continued Effort to Close E-Commerce Tax Loopholes

Take Action

Subscribe to our free Regulatory Updates feed, the closest thing to having a crystal ball for tax changes that may affect your business.

Sign up for Email Updates

Stay up to date with the latest tax and compliance updates that may impact your business.

Author

Alex Forbes

Alex Forbes is Senior Manager, Content Marketing, at Sovos. When not helping readers navigate their tax-related digital business transformation journeys, he enjoys day tripping around New England with his wife.
Share This Post

North America ShipCompliant
May 25, 2023
Out-of-State Breweries Gain Self Distribution, DtC Rights in Oregon

Under a settlement agreement, breweries located outside of Oregon now have more options for selling into the Beaver State, including direct-to-consumer (DtC) shipping and self-distribution to retailers. The settlement arose out of a lawsuit filed by a group of Washington breweries last year challenging Oregon laws that limited beer self-distribution to in-state breweries and DtC […]

EMEA VAT & Fiscal Reporting
May 24, 2023
VAT and Art: What you need to know

Significant inflation increases have impacted most of the world’s economies, with the UK still above 10% in 2023. This increase means a reduction in the purchasing power of consumers. Together with increases in the cost of raw materials, this has created uncertainty regarding growth of entire industrial departments and reduced profit margins for companies. The […]

North America ShipCompliant
May 23, 2023
Top 5 Myths Surrounding Retailer Direct-to-Consumer Wine Shipping

By Tom Wark, Executive Director, National Association of Wine Retailers Politics breed myths. This has always been the case as politics is, at its most fundamental, a form of storytelling. So it should be no surprise that myths have arisen as various elements of the wine industry have fought against consumers and specialty wine retailer seeking […]

EMEA IPT
May 23, 2023
IPT: Location of Risk and Territoriality

Much of the discussion on the Location of Risk triggering a country’s entitlement to levy insurance premium tax (IPT) and parafiscal charges focuses on the rules for different types of insurance. European Union (EU) Directive 2009/138/EC (Solvency II) set out these rules. However, a related topic of growing importance in this area concerns territoriality, i.e. […]

Asia Pacific E-Invoicing Compliance
May 23, 2023
Japan: New e-Invoice Retention Requirements

Japan’s new e-invoice retention requirements are part of the country’s latest Electronic Record Retention Law (ERRL) reform. Along with measures such as the Qualified Invoice System (QIS) and the possibility to issue and send invoices electronically via PEPPOL, Japan is implementing different indirect tax control measures, seeking to reduce tax evasion and promote digital transformation. […]