Press Release (ePRNews.com) - FORT WAYNE, Ind. - Feb 03, 2021 - DuCharme, McMillen & Associates, Inc. (DMA), an industry-leading corporate tax consulting firm, proudly announces its expansion to Europe, with headquarters in Germany.
As the Wayfair court decision has greatly expanded the number of companies required to collect sales tax in the U.S., navigating the complex maze of U.S. state and local tax schemes has continued to be a challenge for even the most sophisticated U.S.-based tax departments. For a company based outside the U.S. with sales or operations inside of the U.S., satisfying its sales and use tax compliance obligations can be a nightmare.
At the same time, European countries are beginning to adopt real-time indirect tax compliance regulations and lowering their thresholds for imposing tax collection obligations (including considering tax collection requirements for marketplace facilitators). As a result, global companies with a European presence are facing increasingly daunting tax compliance challenges.
Unfortunately, the functionality of these companies’ enterprise business systems often isn’t robust enough to effectively manage the full array of sales and use and value added tax (VAT) calculations, remittances, and document management/retention requirements. As a result, complex, global companies are looking to automate their transaction tax compliance processes not just for their U.S. and Canadian operations – they’re looking for comprehensive, global solutions.
According to Justin Reinard, DMA’s Executive Vice President of Tax Technology, “There are over 12,000 taxing jurisdictions in the U.S. alone. We find that our European clients with operations in the U.S. can be overwhelmed by the complexities of U.S. taxation, and we believe that with a European presence, we’ll be better able to support those clients with their U.S. tax automation needs. In addition, as global tax scenarios become more complex, we’re seeing an increased need for our North America-based clients to automate their global tax processes, as well.”
DMA’s Tax Technology experts connect clients’ ERP systems to software that automates tax calculations for purchase and sales transactions and streamlines the associated reporting to the appropriate taxing authorities. This not only reduces the burden on a company’s tax, IT, and accounting teams, it enhances compliance.
“Over the past few years, we have seen a shift in tax automation – companies have been approaching it from a global perspective, more countries have increased the scope and complexity of their tax regimes, and tax compliance obligations for global companies with a U.S. presence have increased,” says DMA President and CEO Dan Hutmacher. “As many organizations are now considering a global tax software deployment instead of U.S.-only tax automation, DMA’s expanded footprint allows us to better support our global clients.”
To learn more about DMA’s global tax automation expertise, visit DMAinc.com/Tax-Technology.
DMA, a proudly employee-owned company, has been partnering with many of the world’s largest companies since 1972 to solve their corporate tax challenges. Focusing on eight key areas of corporate taxation – property tax, sales/use & commodity tax, state income & franchise tax, tax technology, value added tax, customs & duty, crown royalties, and unclaimed property – DMA professionals assist companies with minimizing their taxes, enhancing the efficiency of their tax administration through industry-leading technology solutions, and managing their tax compliance obligations. To learn more about DMA, visit DMAinc.com.
Press Contact: Lori Wildman +1 800.309.2110 ext. 2528 | email@example.com
DuCharme, McMillen & Associates, Inc.