PYMNTS

FEBRUARY 10, 2020

The jousting over eCommerce taxes — especially for U.S. Last week in India, the government proposed a tax on eCommerce transactions that will likely increase operating costs for sellers large and small. The tax, technically known as “Tax Deducted at Source” (TDS), is sent directly to an account held by the central government.

Taxes 175

Taxes Illinois Study Operations 175

PYMNTS

AUGUST 7, 2019

The European Central Bank (ECB) said in a report that fixing cryptocurrency asset data gaps still presents a sizable challenge for financial institutions as well as regulators, Cointelegraph reported. Ted Budd (NC) has reintroduced the Virtual Value Tax Fix Act, Coindesk reported. Budd’s legislation comes after U.S.

Taxes 129

Taxes Bitcoin cryptocurrency Regulation 129

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 25, 2019

Amid the continuing drumbeat for taxes on global commerce done through digital means, the Czech government has approved a new seven percent digital tax on global Internet firms which will, as Reuters reports , be levied on revenues tied to Czech users across advertising, digital marketplaces and data sales. Health Records and Google.

Taxes 130

Taxes Google Data Regulation 130

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. he said. .

Taxes 131

Taxes Policies Compliance Retail 131

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

PYMNTS

DECEMBER 30, 2019

Merchants’ marketing departments may find bundling useful, but their accountants are less likely to see it positively — determining individual items’ tax obligations in the different states into which they are sold can be challenging, and putting offerings into bundles only magnifies complexities. Unpacking States’ Unbundling Policies .

Taxes 130

Taxes Retail Iowa Policies 130

PYMNTS

MAY 28, 2020

South Korea is pondering a modification to its tax law which could place taxes on cryptocurrencies. Though not much information is currently available, the new rules could impose restrictions on profitable sales of cryptocurrency and revenues gleaned from national crypto-mining projects, according to Cointelegraph.

Taxes 142

Taxes Bitcoin cryptocurrency blockchain 142

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 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

PYMNTS

FEBRUARY 16, 2020

Facebook is something in between a newspaper and a telecommunications company, said CEO Mark Zuckerberg , and he wants it to be regulated accordingly, The Wall Street Journal reported. He has recently signaled that he would support Facebook paying higher taxes in Europe.

Guidelines 131

Guidelines Regulation How To social media 131

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

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

DECEMBER 11, 2018

According to a report in CNBC , citing the report published by the ACCC, the government watchdog listed a series of remedies, which include creating a government agency that would be tasked with regulating how the likes of Facebook and Google publish news on their platforms.

Google 148

Google Regulation Taxes Analysis 148

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.

Tools 221

Tools Data Compliance Regulation 221

PYMNTS

FEBRUARY 12, 2019

Govindacharya have asked lawmakers in India to call leaders of Google and Facebook to the country to ask them about data privacy and their compliance on tax laws, according to a report from Reuters. The group is asking a parliamentary panel on information technology to investigate the tech giants.

Taxes 108

Taxes Google social media Groups 108

Abrigo

AUGUST 26, 2024

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. Are controls established by the specialist/third party sufficient to rely on information (SOC 1)? Have we reassessed the use of the specialist/third party?

Compliance 195

Compliance Management Regulation Data 195

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. Regulators are increasingly taking note, with some seeking to improve AML and anti-tax evasion efforts by prohibiting anonymous crypto transactions.

cryptocurrency 116

cryptocurrency Regulation Compliance blockchain 116

Abrigo

FEBRUARY 18, 2016

In this webinar, Sageworks is teaming up with Linda Keith CPA again to bring you more great information about tax return analysis. Linda has been a guest speaker on several Sageworks webinars that covered topics like Global Cash Flow , Red Flags for Tax Return Analysis and Making Judgement Calls for Tax Return Analysis.

Guidelines 150

Guidelines Analysis Taxes Training 150

Abrigo

DECEMBER 4, 2020

The October 23, 2020 proposed amendments, if passed, would modify two rules that have been part of the Bank Secrecy Act (BSA) regulations since 1995. The first rule in the NPR is the Recordkeeping Rule , which requires financial institutions to collect and retain information on certain funds transfers and transmittals. Watch Webinar.

Regulation 195

Regulation Lending Taxes Data 195

PYMNTS

SEPTEMBER 28, 2020

They also need to collect and verify vendors’ details to comply with anti-crime regulations, adhere to tax reporting requirements and deliver convenient digital payments to these suppliers. Corporate buyers that have gathered enough information on potential business partners then need to answer to regulators.

Data 166

Data Management Taxes Meeting 166

PYMNTS

DECEMBER 19, 2019

Cryptocurrency accounting firm Lukka has released a new service that will figure out the taxes on crypto assets, according to a report by CoinDesk. The new service comes on the heels of an announcement by the Internal Revenue Service (IRS) that it was changing the guidelines for how taxes were calculated.

Bitcoin 130

Bitcoin Taxes Guidelines cryptocurrency 130

CFPB Monitor

JANUARY 24, 2020

On December 18, 2019, the New York Department of Financial Services (DFS) issued its Final Regulations detailing the business conduct rules for mortgage loan servicers. These regulations will require implementation of additional New York-specific communications and servicing procedures. Effective Date. Escrow Accounts (§ 419.2).

New York 78

New York Regulation Payments Compliance 78

PYMNTS

OCTOBER 5, 2020

Regulation. The European Union is getting ready to make Big Tech provide smaller competitors with their massive collections of customer information. Furthermore, other portions of the draft include a rule that gatekeeper platforms only have the ability to harness the information they receive for specific activities.

Data 229

Data Google Compliance Apple 229

South State Correspondent

MAY 30, 2024

We work with well-known national CPA firms that specialize in working with banks specifically to claim their ERC tax rebate. The average tax rebate is approximately $1.5 Thus, if you are a bank in Georgia, you have a little better than a 50% chance of qualifying if we have no further information on you.

Georgia 195

Georgia Alabama New Jersey Taxes 195

PYMNTS

MAY 19, 2020

BlockFi suffered a “temporary data breach” on May 14 that exposed some customer information, the company reported in an incident report. In other news, the government of Iran is aiming to limit digital currency exchanges with so-called “currency smuggling” regulations, CoinDesk reported. dollars and Ukrainian hryvnias.

Data 212

Data Bitcoin cryptocurrency Taxes 212

Abrigo

NOVEMBER 21, 2019

CDD rule was the requirement to capture beneficial ownership information. This was brought to light by the Panama Papers and Paradise Papers, the history making data leaks which exposed many individuals across the globe as the beneficial owners of tax haven shell companies, including prominent United States citizens.

United States 195

United States Regulation National Taxes 195

PYMNTS

APRIL 30, 2019

A venure that would make it easier for consumers to pay for purchases in bitcoin is applying for a license from New York state regulators. “This structure will provide the first end-to-end regulated environment for price discovery of crypto — ? Suspension, Taxes and a Breach.

Bitcoin 134

Bitcoin Taxes New York Oklahoma 134

PYMNTS

DECEMBER 19, 2019

A number of Chinese tech companies were ordered to clean up policies on the way their apps deal with user information or face penalties, according to an Associated Press report on Thursday (Dec. In other recent crackdowns by China’s Communist authorities, companies have faced increasingly steep control and regulation by the government.

social media 130

social media Regulation Exercises Policies 130

PYMNTS

DECEMBER 23, 2020

The case stems from an earlier order from CFPB based on finding that Discover had been misstating the minimum amounts due on billing statements along with tax info customers needed to help get federal income tax benefits. In addition, CFPB found that Discover had been engaging in illegal debt collection practices.

Taxes 285

Taxes Analysis Payments Report 285

PYMNTS

JANUARY 25, 2021

In other news, in an attack on Indian cryptocurrency exchange BuyUCoin , hacker group ShinyHunters leaked the private information of over 325,000 users, Inc42 reported. The data leaked included names, email addresses, phone numbers, bank account details and tax ID numbers, the report stated.

Bitcoin 261

Bitcoin cryptocurrency Data National 261

PYMNTS

JUNE 14, 2017

Tax and accounting compliance can be an overwhelmingly monumental task as companies expand their geographic footprint. Not only do regulations vary from jurisdiction to jurisdiction, but the consequences of non-compliance vary greatly, too. There are also an “extremely high number” of tax rules.

Compliance 146

Compliance Marketing Taxes Groups 146

Abrigo

FEBRUARY 5, 2021

Takeaway 3 Meanwhile, regulators continue to reinforce the importance of lenders knowing customers and beneficial owners. In a letter, the AICPA cited an example that, in many instances, small business owners applying for PPP loans were being incorrectly informed they had a criminal record. New Guidance Out. That issue was resolved.

Fraud 195

Fraud Lending Taxes Regulation 195

BankBazaar

DECEMBER 12, 2023

While NPS is an investment that is linked to the market and is regulated by the Pension Fund Regulatory and Development Authority (PFRDA). lakh annually with tax breaks under Section 80C. This stability and tax efficiency appeal to risk-averse investors, evident in the current 7.1% return rate. PPF or NPS?

Taxes 78

Taxes National Marketing Regulation 78

CFPB Monitor

JANUARY 9, 2020

The New York Department of Financial Services has sent a letter to the institutions that it regulates requiring each such institution, by February 7, 2020, to provide to DFS a description of its “plan to address its LIBOR cessation and transition risk.” (LIBOR is the acronym for the London Inter-Bank Offered Rate.).

Regulation 78

Regulation New York Management Taxes 78

PYMNTS

SEPTEMBER 12, 2019

billion — 91 percent — of those penalties, while European regulators demanded $1.7 FinTechs could face these same financial pains as regulators increasingly demand that they follow the compliance rules to which FIs must adhere. This allows the latter to make well-informed judgment calls based on the tools’ assistance. .

Fraud 189

Fraud Fintech Compliance Regulation 189

PYMNTS

MAY 21, 2019

But as Reuters reports , when the next CEO takes the reins, he or she will be required to do everything from submit fingerprints to offer up tax documents, and will generally face a “vetting process that could rival that of top government officials.”. Allen Parker is interim head of the company.

Taxes 152

Taxes Regulation Policies Report 152