Cross-Border Tax Compliance Enables Global Growth

By Marc Duclos posted 6 days ago


Today, more and more companies of all sizes are poised to expand into new markets. These global growth opportunities can be mighty lucrative, but successfully leveraging them requires understanding and addressing some major challenges. New, complex, and continually changing tax and compliance requirements feature most prominently among these obstacles. 

This combination of factors elevates tax teams to an even more strategic position. Their knowledge of value added tax (VAT) requirements, trademark taxes, import and export taxes and numerous other facets of the global tax landscape are crucial to their company’s global expansion strategies. Leading tax groups pair their unique knowledge with advanced practices and tax technologies to reduce error-prone manual processes, streamline tax determination, and reduce tax-compliance risks. By doing so, these tax groups remove regulatory and technological barriers to growth so that their organizations – equipped with advanced e-commerce capabilities and new customer insights – can execute expansion plans.

To be sure, the potential for growth in the coming years will be substantial. In fact, the e-commerce industry topped $1 trillion for first time in 2022, according to DigitalCommerce360 research. The growing use of online channels also gives more organizations of all sizes (and in most industries) the chance to emulate larger peers and competitors by entering new markets. Among the largest 250 global retailers, 64.8% have global operations (operating in an average of more than 10 foreign countries each), according to Deloitte’s Global Powers of Retailing research.

Opportunities for global growth will arrive sooner rather than later; taking advantage of them requires business leaders to understand and mitigate accompanying risks, including cross-border tax compliance challenges.

To learn more, join us at Ascend 2023, June 11-14, in Orlando, FL and streaming worldwide. In our presentation on Tuesday, June 13 from 3:00-4:00pm, we will discuss the current global tax and regulatory landscape and what you need to know to ensure cross-border tax compliance, the capabilities of your Oracle applications with global tax automation and compliance solutions, and case studies and best practices shared by peers. We look forward to seeing you there! 
About the Author
Marc Duclos is Global Partner Director Oracle | NetSuite for Vertex Inc, a leading provider of indirect tax software and solutions. The company’s mission is to deliver the most trusted tax technology to enable global businesses to transact, comply and grow with confidence. Working together, Vertex and Oracle | NetSuite provide solutions that help empower retailers to better manage and support their businesses. As the leader in tax technology for more than 40 years, the team of experts at Vertex is equipped to help retailers keep pace and remain compliant with quickly evolving changes in global, regional, and local tax and regulatory requirements.