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Taxware To Feature SSTP Compliance At October Summit

by Leroy Baker,, New York

28 September 2006

Certification of compliance solutions, recently introduced in the US by the Streamlined Sales Tax Governing Board, will be one of the highlighted issues at Taxware's 11th Annual Summit at the MGM Grand in Las Vegas next month.

Taxware says that in addition to addressing domestic taxation issues, the Summit will for the first time incorporate a distinctly global theme with a dedicated stream of seminars running on 11th October. These are designed to address not only the most pressing tax issues on a global basis, such as the growing problem of VAT fraud in the European Union, but will also reflect important new developments in the Taxware product set, including work that is now being undertaken to facilitate trade with emerging markets including Brazil, India and China.

Richard Ainsworth, Director of Government Affairs at Taxware, commented:

“Issues such as VAT fraud are costing governments literally billions of dollars each year in lost taxes and any resolution could have important cash-flow implications – both risks and opportunities - for companies, especially those doing business with Europe. The Summit gives delegates the opportunity to understand issues such as this and discuss prospective solutions with the Taxware team.”

Since the last summit in October 2005 some significant advances in tax calculation, compliance and technology have also emerged in the United States, including the certification of compliance solutions. These certifications, effective June 2006, by the Streamlined Sales Tax Governing Board have added significant value to tax compliance solutions. The service provided by Certified Service Providers pursuant to the Streamlined project is funded under an agreement with the Streamlined Sales Tax Governing Board, Inc.

Charles Collins, vice president of Government Affairs at Taxware, a former co-chair of the Streamlined Sales Tax Project and a key speaker at the forthcoming Summit, commented:

“There can be little doubt that the Streamlined Sales Tax initiative, including certification, represents one of the most important innovations we have seen in the efficient collection of sales taxes in the United States. Streamlined provisions help businesses reduce their compliance burden on remote and point-of-sale transactions, and certified solutions provide liability relief during audit. It is vital therefore that businesses understand how they can benefit by participating in this effort.”

Taxware says that its products have simplified the tax calculation and compliance process with solutions for sales, use, value added and other consumption taxes for businesses around the globe. By combining expert knowledge of the most current transaction tax laws, rules and regulations with the best available automated processes, Taxware has developed comprehensive solutions that facilitate compliance with Sarbanes-Oxley, serving as the control for corporate transaction tax operations.

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