Forbes has predicted the following 7 tax trends that "may influence tax policy and tax trends for the coming years." What 7 items made the list? Find out below.
- Corporate compliance - comprehensive tax control framework
- Legislation - general anti-avoidance rules, interest deductibility changes transfer pricing
- Transparency - disclosing tax information to stakeholders, internal transparency of tax-related functions
- Professionalism - tax authority administrators are better equipped to deal with complex tax issues
- Big data - advanced data and analytics capabilities
- Tax competition - corporate tax rates keep falling
- Balancing conflicting interests - managing the diverging interests of stakeholders
A trend that we see is more automation in the sales and use tax space. If you are interested in a sales and use tax automation solution, Vertex Inc. offers a cloud-based solution that is designed to save time, effort, and risk associated with calculation, return, remittance, and compliance for small to medium-sized businesses. Gain the advantage of built-in taxability rules for less customization and maintenance.