Tax professionals involved in omnichannel retail industries face an unprecedented number of challenges these days. Calculating sales tax across different retail channels is complex due to various regulations, frequent changes in product data, and outdated systems, especially with increasing sales volume and shrinking budgets. These issues and more were discussed by tax and trade experts in a […] … Read More

A company’s decision to introduce indirect tax (IDT) automation into its tax processes is often fraught with indecision and uncertainty. Every company’s tax technology journey is different, and it’s not always clear when and how tax automation should be incorporated or what the benefits will be. During their Synergy 2022 presentation, Joe Malloy and Chandra Wing from BDO’s Indirect […] … Read More

As governments around the world require digitalised methods for e-invoicing and real-time monitoring and reporting of business transactions, multinational organisations face many complex and costly compliance challenges. In particular, mandates for e-invoicing and continuous transaction controls (CTC) are data-intensive initiatives that demand speed, accuracy, and transparency all at once. Complying with these mandates requires technology, […] … Read More

The reality of Global Minimum Tax (GMT) (GloBE or OECD BEPS 2.0 Pillar 2) is here, as South Korea steps forward to be the first country to enact laws associated the OECD’s newly approved tax regime going into effect in January 2024. 137 countries covering 90% of the global economy signed a deal to enforce […] … Read More

Learn how the rapid pace of change in global regulations and reporting requirements is increasing the importance of tax compliance. Compliance may not be the most glamorous task facing indirect tax (IDT) teams, but the rapid pace of change in global regulations and reporting requirements is turning the humble compliance function into a rapid-fire gauntlet […] … Read More

In the past few years, indirect tax specialists have had to deal with the Covid pandemic, Brexit, an ever-changing landscape of rules and regulations, budget tussles, hiring difficulties, and numerous other challenges. The professional terrain is no less rocky heading into 2023.  In a recent panel discussion with Indirect Tax (IDT) experts hosted by Thomson […] … Read More