Silicon Valley-based Ventana Research recently recognized Vertex Enterprise in the category of Business Innovation for the Office of Finance in the technology research firm’s 2013 Technology Innovation Awards. While we are not big on publicizing accolades, this one is special.
When people ask me about the strategic alliance Vertex and Deloitte Tax entered recently, I reach for my dictionary.
“Alliance,” according to Merriam-Webster’s, means a “bond” or “connection.” That’s fitting: we’ve been connected with Deloitte for years, working side-by-side with their tax experts on numerous large Vertex implementations inside our customers’ organizations. We believe this relationship provides customers with the best tax expertise (Deloitte) and tax technology (Vertex) and our strategic alliance simply formalizes and deepens that longstanding connection.
Last week, I was reflecting on a conference presentation that I was lucky enough to hear earlier in the year. The speaker had some very interesting things to say about the social contract between tax authorities and tax payers. The essence of his point was that tax authorities have an obligation to assist tax payers in making the identification of their liabilities and the payment of their taxes as easy as is reasonably possible. In return, tax payers should remain compliant by accounting for, collecting and paying those taxes that they are required to manage.
In my last post, I discussed how the management of tax data is widely viewed as a root cause of tax process efficiency and effectiveness. I also mentioned Vertex’s recent survey on tax process improvement practices, which includes feedback from over 300 tax professionals.
Recently, tax professionals from one of our long-term customers, Tyson Foods, were generous enough with their time to visit Vertex headquarters for a lunch and learn session. Hundreds of Vertex employees from nearly every corner of our company attended the event in person or virtually.
Tax Executives Institute (TEI) Executive Director Eli Dicker recently visited Vertex headquarters to share his insights on the TEI membership and the future of his organization, address employee questions, huddle with our executive team and - perhaps most notably - provide a valuable dose of context.
"When solving problems, dig at the roots instead of just hacking at the leaves." The quote, attributed to education writer and innovator Anthony J. D'Angelo, is instructive for tax professionals grappling with data management challenges.
Across the globe indirect VAT/GST rules are being amended to ensure that foreign digital suppliers become liable for the collection and remittance of these taxes.
Since December 1, 2019, non-resident businesses selling low value goods to consumers in New Zealand need to apply, collect and remit GST (at the standard rate of 15%) on these sales to New Zealand’s Inland Revenue Department (IRD).
As the economy continues to digitalise problems arise when it comes to the effective and consistent collection of VAT/GST on cross-border sales. That is why recent guidance from the Organisation for Economic Cooperation and Development (OECD) on the matter is most welcome.
