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The Strange Spending Trends Around Sales Tax Holidays

PYMNTS

According to the National Retail Federation , as of last year parents entered August with about 45 percent of their back-to-school shopping done. This year 17 states will have sales tax holidays of one form or another — up from 16 last year, but down from the national high of 20 states in 2010. How Tax Holidays Work.

Taxes 101
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Foreign Tax Compliance Reporting — FATCA vs. CRS

FICO

You would think one system would be enough to manage foreign tax compliance. In 2010 the IRS (Internal Revenue Service) started to define the details of FATCA (Foreign Account Tax Compliance Act). Two aspects are of interest: possible additional tax revenue from foreign accounts and additional information on the customers.

Taxes 53
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South Africa Government Losing Billions To Trade Mis-Invoicing

PYMNTS

billion every year in what would have been government revenue between 2010 and 2014. A company may overstate the value of goods they import, paying that invoice to move excess funds overseas or avoid VAT or customs taxes. The think tank estimates that annual under-invoicing on imports to South Africa is valued at $16.3 billion.

Taxes 122
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Economic Nexus Laws’ Unexpected Impacts On Restricted Substance Retailers

PYMNTS

eCommerce sales tax laws are having unintended consequences in the tobacco industry. These laws were meant to make online sellers face sales tax requirements similar to those for retailers with on-the-ground locations, putting both types of businesses on equal footing. in 2017 had a 52.75

Retail 109
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Wells Fargo Computer Glitch Forced Hundreds Of Foreclosures

PYMNTS

Wells Fargo , the embattled national bank, disclosed in a Securities and Exchange Commission filing that hundreds of individuals saw their homes in foreclosure because of a glitch in software the company used. The computer glitch impacted some accounts that were in the foreclosure process between April of 2010 and October of 2015.

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Prepare for stronger C&I lending demand: A $1.7 trillion “wave”

Abrigo

2010-2023: 137.3% Digital engagement : CRE credit risk management tends to focus primarily on annual tax returns and rent rolls, while C&I lending relies on higher-frequency reporting. 2004-2008: 82.6% trillion, Pruis said. trillion “wave” appeared first on Abrigo.

Lending 195
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Nissan’s Ghosn Gone Amid Improper Payments Scandal

PYMNTS

Beyond Europe, Reuters reported that Venezuela’s former national treasurer, who received as much as $1 billion in bribes tied to illegal foreign currency operations, has been given a 10-year prison sentence in the U.S. Under-invoicing means customs duties and taxes are avoided. The scam lasted for five years, between 2012 and 2017.

Payments 124