Growing Need for Sales Tax Compliance Automation

Growing Need for Sales Tax Compliance Automation

A Conversation with Tim Roden at Sovos

Reading time: 4 mins

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Key Takeaways

⇨ Current sales tax compliance needs are changing rapidly as organizations face growing exposure to unforeseen tax obligations, fines, audits, and poor customer experience due to economic nexus complexity.

⇨ Constantly changing external compliance requirements and digital transformation initiatives also put immense pressure on the tax teams.

⇨ Cloud-based tax automation integrations with S/4HANA, such as Sovos Global Tax Determination for SAP S/4HANA and SAP S/4HANA Cloud, enable sales tax compliance automation and allow organizations to focus resources on core business activity.

Economic Nexus Complexity is Increasing Across the U.S., Creating Challenges for Tax Teams  Sales and use tax compliance is growing more burdensome for organizations that are conducting business in the U.S. due to complex economic nexus mandates. Many states are expanding their sales tax jurisdiction to include out-of-state companies with a certain level of sales...

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