Suggested Solutions To The Cost Burden Of Global Tax Compliance

The cost burdens that are associated by businesses and do the tax function in a multi-jurisdictional environment generally consist of: cost for labor, employee training, and computer systems and software. Further, the cost and compliance burdens worsen for businesses by the fact that with little uniformity amongst the taxing jurisdictions and frequent changes to their laws and tax rates, the risk of error is greater and errors result ultimately in the payment of penalties and interest. However, with simplification of the sales and use tax system, the cost of compliance may be reduced, hence easing the current tax compliance burden and cost that are carried by businesses.

The following questions have been addressed in this article:

Will the States Adopt a Uniform Approach?
Are there Obstacles to Uniformity?
What a new system might cost the government?

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