Listen to this new podcast, and hear how Thomson Reuters and KPMG are working together to help businesses better manage the impact associated with the reinstated Superfund Excise Tax. Understand more about the new regulations, how to calculate the tax, and how to comply with these complex reporting requirements.    Show notes: Jesse Shannon, Senior Product Marketing Manager, Indirect Tax, Thomson Reuters Robert D Kleppel, Partner, State and Local Tax, KPMG Taylor Cortright, Managing Director, Federal Excise Tax Practice, KPMG Chris Harris, Senior Solution Consulta ..read more

Listen to this new podcast, and hear how Thomson Reuters and KPMG are working together to help businesses better manage the impact associated with the reinstated Superfund Excise Tax. Understand more about the new regulations, how to calculate the tax, and how to comply with these complex reporting requirements.  ..read more

Since 2020, supply chain disruptions have continued to mount, which has resulted in these unprecedented changes. Everything from the chips for computers to living room sofas is causing many delays to suppliers, factories and customers. More disruptions are coming, As the World Customs Organization makes their every 5-year large Harmonized System changes effective January 2022, introducing 351 sets of amendments covering a wide range of goods across industries. In this episode, global trade experts Suzanne Offerman talk to Virginia Thompson and Brandon Jones as they unpack the new changes to th ..read more

We don't have to tune into the news to see that business models in a lot of industries are changing faster than ever before. We hear a lot about changes due to COVID, companies transforming the way they sell, bringing new products to market, digitizing how they serve customers. However, the pandemic has only increased the speed at which these changes are happening. Corporations have increased the number of places they are doing business, customers they serve, and the breadth of products and services they offer. This, in turn, increases the volume of purchases or transactions they have and the ..read more

After an unprecedented tax year and an ever-changing regulatory environment, the challenges of today’s tax teams are more important more than ever. As the effects of the pandemic continues to reverberate well into 2021, resource-constrained tax professionals need to unceasingly adapt to ongoing challenges, like extended deadlines and new ways of working. In this episode, Thomson Reuters Bianca Kuijper takes us through a “behind-the-scenes” look at the industry’s most trusted and powerful corporate income tax solution. She is joined by our own technology and customer success experts, Alycia Hem ..read more

How can automation technology assist finance departments and Shared Service Centers with standardization and centralization of their global reports?    Filing financial statements is a legal obligation in most countries worldwide, but each jurisdiction has its specific reporting requirements and, therefore often remains retained with an in-country finance team. The impact on how businesses operate and the future of work have been brought to the fore now more than ever. Organizations are looking to automate, not just to drive efficiency and avoid human error, but to leverage ..read more

Extensive tax reform or real-time reporting requirements put even heavier demands on tax teams. In our 2021 State of the Corporate Tax Department survey, tax teams worldwide responded that tax departments with advanced technology engines considered themselves more 'sophisticated or predictive' and right-sized in terms of resources than their chaotic reactive counterparts. How can tax departments add value to their organizations, reap the benefits of investing in streamlining and automating processes, and feel better shaped to achieve strategic goals and address the challenges they may face? Wh ..read more

With supply chain disruption erupting around the world, what strategies and tools can customers use to navigate these cataclysmic changes? The most recognizable supply chain disruption over the last few years has undoubtedly been the China Section 301-Tariff Actions and Exclusion Process. These include the punitive tariffs on Chinese origin products, tariffs on EU and US origin products under that large civil aircraft dispute, and some retaliation around digital services taxes on specific origin items. Add in the new administration’s new United States Trade Representative, most companies are e ..read more

How can AI and machine learning assist already overburdened tax professionals with complicated and time-consuming processes? Any organization invested in a partnership or flow-through entity like trust or S Corporations by statute must provide information around federal, state, and international activities. Most tax documents are typically in specific formats– except for K-1s.  About 40 million K-1s are created and received, but because there is no standard format, the process is confusing, manual, and time-intensive. Already beleaguered tax professionals take anywhere from fifteen minute ..read more

The disruptions due to COVID has hastened many industry tax trends simmering on the surface even before the pandemic hit. These new rules and trends can have a lasting effect beyond  2022 and even the next five years. Moreover, with economic stimulus packages rolling out from governments worldwide, it's no secret these governing authorities will be looking for ways to charge indirect taxes to refill their coffers. Thomson Reuters’ own Chris Harris, Chris Reich, and Dan LeCompte from KPMG offer information on what tax professionals need to know and understand as they navigate discussion on ..read more