Tax & Accounting Blog

A Simpler Way to Keep Track of Indirect Tax

Indirect Tax, ONESOURCE, Sales and Use Tax April 25, 2012

Indirect tax – which encompasses consumption, transaction, value-added, and sales and use taxes – can cost businesses thousands of dollars to manage each year.

Though keeping track of indirect tax is a legal obligation, staying on top of constantly changing tax rates and rules can be overwhelming. Additionally, if it is done incorrectly, businesses risk exposing themselves to audits, interest charges, and monetary penalties.