PYMNTS

DECEMBER 27, 2019

Sales taxes empower governments to maintain critical public services, but they can also make medical essentials too expensive for those who need them. Campaigns against taxing obligatory items are spreading across the United States, forcing states to rethink their revenue generation decisions. Sales taxes’ price tags.

Taxes 146

Taxes Policies Compliance Retail 146

Bank Innovation

APRIL 2, 2018

Taxes on cryptocurrency? That’s what regulators in Thailand are planning to institute. According to a report by Nikkei Asian Review, after a cabinet meeting suggested that crypto traders could be charged with as much as 7% value added tax as well as up to 15% tax on capital gains.

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Taxes cryptocurrency Meeting Regulation 220

PYMNTS

JANUARY 22, 2021

Amazon is planning to hike fees for Spanish companies using its platform by 3 percent from April, according to a Reuters report, since the country's government imposed a new digital tax. A spokesperson for Amazon said the so-called " Google tax" would end up hitting users. Spain began charging the fee on Jan.

Taxes 151

Taxes Company Google Apple 151

PYMNTS

JANUARY 11, 2021

US Trade Representative: India, Italy, Turkey Digital Taxes Discriminates Against US Firms. Trade Representative (USTR) recently released the results of Section 301 probes of digital services taxes (DSTs) that Turkey, Italy and India have adopted, finding that each tax “discriminates against U.S. Billion Of French Products.

Taxes 132

Taxes US Compliance social media 132

PYMNTS

NOVEMBER 16, 2020

Regulation. Tencent Holdings President Martin Lau said further regulations are needed in China to mirror a “new reality.”. As technology companies become bigger and more important to the economy, I would say more regulations to reflect the new reality are needed," Lau said, according to the report. Larry Hogan vetoed the levy.

Maryland 151

Maryland Taxes Online Groups 151

PYMNTS

FEBRUARY 14, 2020

Amazon and Flipkart are pushing back against a proposed Indian tax on the online eCommerce market, saying it will stymie growth in the industry, according to a report by Reuters. . The tax would be 1 percent on every sale made by a seller on the eCommerce platforms, and it would take effect in April if approved by the country’s parliament.

Taxes 159

Taxes Industry Compliance Regulation 159

PYMNTS

DECEMBER 30, 2019

Wayfair Supreme Court decision continue to rattle online merchants, as three states (California, Louisiana and South Carolina) are now trying to collect eCommerce sales tax retroactively, as far back as five years. have moved to collect sales tax from remote sellers, and it’s just the beginning. To date 43 states and Washington, D.C.

Taxes 130

Taxes Alaska South Dakota South Carolina 130

PYMNTS

NOVEMBER 26, 2019

Businesses depend on the public services tax revenues pay for: roads that facilitate deliveries, courts where firms resolve legal disputes and regulators that help protect businesses from fraud. Even businesses eager to pay their share, however, may feel that complying with tax laws is complicated. .

Taxes 141

Taxes South Dakota District of Columbia Compliance 141

Perficient

OCTOBER 15, 2024

Lets talk about data governance in banking and financial services, one area I have loved working in and in various areas of it … where data isn’t just data, numbers aren’t just numbers … They’re sacred artifacts that need to be protected, documented, and, of course, regulated within an inch of their lives.

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Tools Data Compliance Regulation 221

PYMNTS

NOVEMBER 15, 2018

million to a Virginia company to handle “large cash payments for processing cannabis federal taxes.”. billion in taxes last year on nearly $13 billion in revenue from legal cannabis companies. Most of these companies were forced to pay their federal taxes in cash because about 70 percent of all legal cannabis businesses are unbanked.

Taxes 208

Taxes Denver Colorado Virginia 208

PYMNTS

JANUARY 25, 2021

Amazon Plans to Raise Fees for Companies in Wake of New Digital Tax in Spain . After Spain’s government levied a new digital tax, Amazon plans to increase fees by 3 percent starting in April for Spanish firms harnessing its platform, Reuters reported. Google Raises Specter of Making Search Inaccessible in Australia.

Taxes 141

Taxes Google Compliance Apple 141

PYMNTS

SEPTEMBER 4, 2019

Merchants must handle the sales tax compliance obligations of each locale from which they receive money if they want to sell online. The complexities of sales tax compliance affect business decisions by both sellers and marketplaces, according to Ted Hettich, chief sales officer at U.K. Deciphering obligations.

Taxes 131

Taxes Policies Compliance Retail 131

PYMNTS

SEPTEMBER 3, 2019

Merchants working to expand and sell online in more markets must comply with each market’s local sales tax regulations, however, and that is an increasingly complicated task. Levy laws can vary widely between states, with one state taxing a product that another does not, for example. Around The Next-Gen Sales Tax World.

Taxes 133

Taxes South Dakota Online Report 133

PYMNTS

JULY 31, 2019

Albania has announced it will implement a new online billing system to prevent businesses from circumventing tax payments and to boost revenue in the country, according to a report by Reuters. The minister said that 1,600 hotels on a booking site were not registered with the proper tax authorities.

Taxes 116

Taxes System Compliance Online 116

PYMNTS

JUNE 14, 2017

Tax and accounting compliance can be an overwhelmingly monumental task as companies expand their geographic footprint. Analysts agree that a company should work with partners, advisors and technologies that can help them manage their compliance demand across borders. There are also an “extremely high number” of tax rules.

Compliance 146

Compliance Marketing Taxes Groups 146

PYMNTS

SEPTEMBER 4, 2019

Since 1992, when eCommerce was still in its infancy, online retailers have not had to collect sales tax. States can now tax sales by companies that do not have a physical presence within the state. Will this increasingly regulated online sales tax environment affect this growth? Online Sales Tax and Marketplaces.

Taxes 129

Taxes Online South Dakota Louisiana 129

PYMNTS

SEPTEMBER 8, 2020

Here’s the latest news for Big Tech’s Google , Amazon , Apple and Facebook , which are coming under increasing scrutiny from legislators and regulators the world over. Regulation. Big Tech Updates Fees to Reflect UK Digital Services Tax. digital services tax on to consumers in addition to an existing 20 percent value-added tax.

Taxes 131

Taxes Google Apple social media 131

BankUnderground

NOVEMBER 8, 2023

In a new working paper , we show that cap-and-trade schemes lead to lower volatility in GDP and financial variables, and result in reduced welfare costs of the business cycle , when compared to the more widely known carbon taxes. As a result, the respective macroeconomic effects of the two policies remain a point of debate.

Policies 79

Policies Regulation Taxes Compliance 79

PYMNTS

JANUARY 17, 2020

Historians and economists regularly look to tax policies to get a sense of what happened within a particular industry, society or country. No doubt the chronicles to come about the rise of the internet age and the spread of digital culture will include serious treatment of tax issues. Taxing Confusion. billion in 2022.”.

Taxes 132

Taxes Online Policies Philadelphia 132

PYMNTS

JANUARY 29, 2020

businesses are likely already feeling tax season’s pressures. Filing is exhausting and complicated for individuals, and businesses experience those tax difficulties to a far greater degree. SMBs need to remain compliant with increasingly complex financial regulations. SMBs And Manual Tax Frustrations.

Taxes 141

Taxes Fraud Tools System 141

PYMNTS

NOVEMBER 7, 2019

The Bank of England has told HSBC to improve compliance controls for non-fiscal factors like fraud and staff conduct, according to a report by Reuters. The shortcomings were pointed out by Prudential Regulation Authority regulators. billion in pre-tax profits, below analyst expectations, with revenue at $13.36

Compliance 101

Compliance Fraud Taxes Regulation 101

PYMNTS

DECEMBER 13, 2019

In commerce, when it comes to taxes, new business models beget new (tax) problems. Against that backdrop, tax collection in the nascent restaurant delivery space remains fragmented at best — and confusing at worst. But in many cases, these firms may not be collecting sales taxes at all. billion received in 2017.

Taxes 131

Taxes Online Policies Florida 131

PYMNTS

JANUARY 24, 2021

Cygnet Infotech promotes FACE as a product that handles not only conventional accounting processes, but also provides specialized handling of challenges around goods and services taxes. One facet of helping with compliance is the automatic recording of journal entries.

Taxes 178

Taxes Compliance Software Fraud 178

PYMNTS

NOVEMBER 29, 2019

And in the wake of all those sales lies a pressing issue for merchants plying their trades online: figuring out the tax liabilities. At the same time, navigating tax policies is proving to be a complex business. tax policy at Avalara , noted that this holiday season is the second one post-Wayfair. The hard part?

Taxes 134

Taxes South Dakota New York Nebraska 134

PYMNTS

OCTOBER 28, 2019

Wayfair case that allowed states and individual cities to launch tax policies aimed at remote sellers and marketplaces is still reverberating in 2019 and will likely affect online retail in 2020. In Q3 2019, 14 states started collected online sales tax and 11 more followed in October. eBay Makes a Deal. Don’t cry for eBay, though.

Taxes 102

Taxes Online San Jose South Carolina 102

PYMNTS

AUGUST 29, 2019

The Australian Taxation Office (ATO) says killing off the paper invoice is critical to promoting corporate compliance and business growth as the nation readies to end its use of physical invoices. billion gap in tax payments, with cash-only businesses leading the tax-dodging behavior.

Compliance 109

Compliance Taxes National Regulation 109

PYMNTS

OCTOBER 11, 2019

But along the way, global digital sales also carry a host of regulatory hurdles when it comes to satisfying various tax regimes. As he told PYMNTS, challenges confront eCommerce firms that seek to understand the broad range of compliance and taxation frameworks that can differ greatly among the countries into which they sell.

Taxes 123

Taxes Course Company Training 123

PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. The Cost of Compliance. The projected 2020 cost of AML compliance across all U.S. financial institutions (77 percent) for AML compliance.

cryptocurrency 116

cryptocurrency Regulation Compliance blockchain 116

PYMNTS

JANUARY 19, 2021

But reaching a broader range of consumers, accommodating their payment preferences, and satisfying regulatory and tax issues in unfamiliar territory introduces a host of new operational challenges for these companies. Retailers are entering new markets at a time when regulations are becoming more complex and costly, not less.

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Branding Taxes Fraud Regulation 322

PYMNTS

SEPTEMBER 3, 2019

eCommerce firms are navigating a tax collection environment that increasingly requires technology and automation to ensure compliance. In corporate payments news, Citi is tapping into application programming interface (API) calls to make treasury ops real-time.

Taxes 122

Taxes South Dakota Technology New York 122

PYMNTS

JULY 16, 2019

France’s financial regulator is set to approve a wave of cryptocurrency-related firms in the country, subjecting them to new rules that include paying taxes and complying with capital requirements and consumer protections, according to a report by Reuters. Because digital currency is so new, regulations vary around the world.

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Regulation Company cryptocurrency Taxes 143

FICO

OCTOBER 26, 2017

This article is from Michael Blicker , a senior consultant in FICO's compliance solutions group. 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).

Taxes 53

Taxes Compliance Report US 53

PYMNTS

MARCH 21, 2018

Globalization, while supporting business growth, places new pressures and challenges on the payroll department — particularly when it comes to compliance and the need to manage regulations that continue to evolve both within and across borders. found most admit they have seen “questionable” practices related to compliance.

Compliance 109

Compliance Survey Resources Regulation 109

PYMNTS

SEPTEMBER 21, 2020

Regulations . EU Regulators Plan New Rules For Big Tech . European Union watchdogs intend to gear new regulations aimed at fighting election-related disinformation toward Big Tech firms such as Apple and Facebook as opposed to smaller tech players. India Telecom Watchdog Decides To Not Regulate OTTs .

Google 147

Google Taxes Compliance Regulation 147

Abrigo

AUGUST 26, 2024

Understanding how to identify these potential CECL risks is essential for ensuring compliance and accuracy in credit loss estimates. I recently discussed appropriate risk and control environments for CECL during an ABA webinar hosted by Mike Gullette, the ABA’s Senior Vice President of Tax and Accounting.

Compliance 195

Compliance Management Regulation Data 195

PYMNTS

OCTOBER 5, 2020

Regulation. The General Court judgment raises important legal issues that are of relevance to the Commission in its application of State aid rules to tax planning cases,” Executive Vice President Margrethe Vestager said in the statement. Data Activist: Big Tech Not Following Transatlantic Data Transfer Regulations. 25 statement.

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Data Google Compliance Apple 229

PYMNTS

AUGUST 24, 2020

Here’s the latest news from Facebook, Amazon and others, which are coming under increasing scrutiny from regulators, trade groups and politicians the world over. Regulations. Facebook Supports Data-Portability Law. Facebook has advocated for a law that would simplify the process of moving videos and pictures to a competing site.

social media 152

social media Data Apple Compliance 152