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Indirect Tax
Managing obligations and maximizing efficiency in the U.S. and global marketplace
An indirect tax is collected by one entity in the supply chain and paid to the government by the retailer. The expense is passed on to the consumer as part of the purchase price. Indirect taxes generate significant revenue for the state or country that imposes the tax. Although indirect tax is common in the United States and throughout the global economy, it is complicated and many businesses are not getting it right.
Thousands of state and local taxing jurisdictions in the United States complicates any company’s sales and use tax compliance. When compounded with global growth and sales, the addition of value added tax (VAT) and goods and services tax (GST), companies are exposed to significant risk.
Proper indirect tax planning is a vital component of a businesses’ financial and operational strategy. Growing into new markets, expanding product lines and many other common business activities that generate profits often increase your indirect tax exposure.
most recent indirect tax insights
North Carolina adopts marketplace facilitator nexus
North Carolina joins more than 30 states adopting a marketplace facilitator nexus provision effective Feb. 1, 2020.
UK Tax Authority releases updated digital asset guidance
New guidance from the UK’s Her Majesty’s Revenue and Customs provides more clarity for businesses engaged digital asset businesses.
The essentials of value-added tax governance
Data is the new battleground for tax authorities. Businesses should take steps to assure the quality and integrity of their data.
EU's VAT action plan 'Quick Fixes'
More than $750bn VAT revenue has been lost across the EU over a 5-year period from VAT fraud and more significantly to noncompliance.
Online travel companies on the hook for local sales taxes in Arizona
Arizona Supreme Court finds online travel companies must collect tax on service fees and mark-ups paid to book hotel rooms.
Important Connecticut sales tax changes for digital goods
Department of Revenue Services releases guidance addressing increased sales and use tax rate for certain digital goods and services.