4 indirect tax compliance actions your organization needs to follow

Implementing integrated technology stacks 

• Adopt centralized platforms for tax operations, compliance, and management to streamline processes and enhance accuracy.

Relying on siloed tax systems 

• Abandon disconnected, fragmented tax systems requiring manual updates that lead to inefficiencies and increased errors.

Automating tax processes

• Leverage automated systems integrated with enterprise resource planning systems for real-time tax determination and e-invoicing compliance.

Manual tax calculation and reporting 

• Cease manual tax calculation, filing, and reporting processes, which are time consuming and prone to errors.

Investing in training and support

• Provide comprehensive training and ongoing support for tax technology users to enhance proficiency and reduce resistance to new technology.

Ignoring real-time reporting requirements

• Do not risk non-compliance and penalties by overlooking the need for instantaneous tax reporting and e-invoicing compliance.

Engaging with experienced tax-solution vendors

• Partner with vendors that offer robust integration programs and extensive support to ensure smooth implementation and alignment with business needs.

Delaying technology adoption

• Avoid postponing the introduction of advanced tax technologies and automation; doing so could cause inefficiencies and higher compliance costs.