Sales tax used to be a back-office afterthought. Today, it’s one of the fastest-moving compliance challenges a business can face. The tax complexities of interstate and international commerce, compounded by growing global VAT/GST requirements, and expanding digital goods regulations, are why the vast majority of companies now rely on some form of automated software to track and calculate their tax obligations.
While using sales tax software to automate compliance tasks can reduce risk and improve accuracy, it also involves an upfront investment that can feel cost-prohibitive. But when you understand the right time to automate sales and use tax, and recognize the compounding benefits of doing so, the decision to invest in sales tax software becomes much clearer.
To dig deeper, visit the original article on the Thomson Reuters blog.