Vertex provides help to businesses struggling with tax compliance in the digital age
LONDON, Nov. 13, 2019 (GLOBE NEWSWIRE) -- It’s often said that there are only two certainties in life: death and taxes. But just because taxation is unavoidable, doesn’t mean it is necessarily straightforward. When it comes to the business world, taxes can get particularly confusing, with rates of business tax varying as a result of a multitude of factors. This is where Vertex comes in.
Since being founded in 1978, Vertex has grown to become one of the leading providers of tax software and services. Over that time, the company has had to evolve constantly to meet shifting regulations, a skill that it remains adept at to this day.
In a video interview with World Finance, Ellen Van Daal, sales engineer at Vertex, explained how a recent ruling by the US Supreme Court – South Dakota vs Wayfair – is creating a new era for sales tax in the country. For businesses that are concerned about achieving compliance in this new climate, Vertex provides automation services to help.
“Before the Wayfair decision, you needed to have a physical presence in each of the states to file your tax returns and pay taxes,” Van Daal explained. “Following the Wayfair decision, if you are doing business in the US, selling to different states, you already have nexus – and thus must pay taxes.”
In separate entries forming part of a series of videos for Vertex Exchange Europe, the company’s senior product manager for EU indirect tax reporting solutions, Aleksandra Bal, spoke about ways in which the tax landscape could change to better suit the digital economy, creating a further compliance burden. In addition, Bal explained the likely impact of last year’s reforms to the VAT e-commerce package in Europe and how companies should react.
To find out more about Vertex and how it adapts its tax services to the shifting demands of different regulatory environments, check out this exclusive video series on the World Finance website, available now.
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