Get the information you need to streamline and centralise your transactional tax work.
Transactional tax compliance requirements have become increasingly complicated and demanding over the years. The only practical solution is fully integrated, tailored to meet a given business’s specific tax needs. Powered by tax automation software, there’s no need to worry about the details of calculating VAT (or other similar indirect taxes) or preparing those tax returns because the heavy lifting is automatically done – in the background of every taxable transaction and at the end of the month.
It starts with the invoice. Every invoice has indirect tax implications, and it is every business’s responsibility to correctly calculate, collect, and remit the tax for each transaction. Tax authorities expect these calculations to be correct, and so do customers. If invoices are incorrect – whether too little tax is charged or too much – these seemingly small mistakes can create a cascade of other problems.
The wrong indirect tax calculations can hurt a business in any number of ways, including the cost and time wasted fixing the errors, government penalties, lost business momentum, damaged customer trust, and, in some cases, legal liability. The longer it takes to identify and fix a tax discrepancy, the more disproportionately expensive the resolution gets.