In global commerce, VAT is a complex form of taxation with varying regulations. Jun Miyake, Principal, Tax Technology at Ryan, discusses the benefits of deploying a tax engine for indirect tax determination. A tax engine is a technology that calculates transaction taxes quickly and accurately, connecting to ERP, billing, or e-commerce systems to ensure accuracy and adherence to tax laws. With real-time reporting mandates and the move to the cloud, a tax engine is essential for correct tax determination.
Source Ryan
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