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What’s the Difference VAT & Sales Tax?

CFO Share

Value-added Tax (VAT) and sales tax are both consumption taxes assessed on the consumer at point of sale. The difference between VAT and sales tax is what gets taxed: sales tax is assessed on tangible personal property (products, materials, and goods) whereas VAT is assessed on both goods and services.

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How Understanding Sales Tax Can Help Your Business

CFO Share

Think your business is too small to worry about sales taxes? South Dakota , small business sales tax has been an issue you cannot afford to ignore. With audits ramping up and penalties exceeding $100,000, understanding sales and use tax is essential. The cost of sales tax non-compliance.

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Get Advanced Landed Cost Automation with SAP Business ByDesign

Navigator SAP

Like tax planning, landed costs are a subtle but important business consideration for maximizing profit margins and ensuring profitability. Sales are global, and supplier relationships are even more so. It seemed like an efficient purchase order. But few businesses are in that situation today.

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Big Tech Compliance Tracker: EU Watchdogs Make ‘Big Tech Hit List’; France To Go Ahead With Digital Services Tax Plan

PYMNTS

However, the OECD cautioned about the potential of an international trade war brought by different nations rolling out digital services taxes on their own to assist in their economic rebounds from COVID-19 in the event nations don’t all agree on the new tax regulations. France Will Proceed With Controversial Digital Services Tax Plan.

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New Tax Planned As eCommerce Soars In Thailand 

PYMNTS

He said the government is targeting overall tax revenue of 2 trillion baht in the current fiscal year to Sept. Sales via social media in Thailand more than doubled to 334.2 30 and is aiming for 2.116 trillion baht in the next fiscal year. . billion baht ($10.92

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Weekend Reading For Financial Planners (December 23-24)

Nerd's Eye View

Also in industry news this week: The SEC has been sending letters to advisory firms requesting details on their use of AI technology, raising questions about whether they may be considering revising their proposed AI rule that received significant pushback earlier this year for the wide breadth of the types of technology it covers DPL Financial has (..)

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Weekend Reading For Financial Planners (July 8-9)

Nerd's Eye View

Also in industry news this week: A recent survey indicates that a strong majority of financial advisory clients have maintained their trust in their advisors despite the investment market setbacks experienced last year A report from the SEC shows that a majority RIAs have mandatory arbitration clauses in their client agreements, a practice that has (..)