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Posted on 2/6/24 at 9:46 pm to Odysseus32
quote:
I used to do one tiny function at a medium sized company. A function which was largely automated. Sales were booked, taxes calculated by a macro in excel, data cleaned and formatted by a macro in excel, formulas in place, etc.
Let's just talk indirect tax accounting, not income tax. Rates change all of the time, statutes change, IT changes have to be made, to reflect statutory changes. Returns, filed monthly, have to reflect these changes. Depending on the industry, "sales tax" is not simple. Look at your cellphone bill and all of the communication taxes. These aren't generally addressed by most sales tax rate/matrix providers. It can be a very manual process and AI won't come close to replacing us (tax) bean counters. When you deal with global companies, transaction tax changes are complex and you have to implement, quickly.
This post was edited on 2/6/24 at 9:47 pm
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