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How Clearbell Uses Loctax to Gain Global Compliance Oversight and Avoid Penalties for Missed Filings Clearbell, a private equity fund manager, relies heavily on external advisors and operating partners, each with their own manual processes, spreadsheets, and data sources. This lack of oversight increased the risk of missed filings to tax authorities. Loctax, a tax compliance and data intelligence platform, has provided Clearbell with greater oversight and accountability through compliance dashboards and downloadable reports. Centralizing entity information and key processes like VAT, CIS, and corporation tax has significantly reduced the risk of missed filings and penalties. Loctax's flexibility and customization options, compared to Big Four solutions, allow Clearbell to create user roles and set up processes tailored to their needs. https://lnkd.in/e4Nyca9m

FIFO Accounting Method Required 📊 The IRS mandates the use of FIFO for digital asset transactions unless specific identification is possible at the time of sale. This aims to ensure accurate tax reporting.

Substance over form... This concept blew my mind when I first read these words and over two-decades later it still surprises me how often this principle appears to have been ignored in #tax cases, particularly in #transferpricing. No matter how sophisticated the structure, the methodoligies, the documentation, if your operational transfer pricing fails, then none of the above will matter when the Tax Office comes calling. Tax, transfer pricing, and #accounting are all very different beasts. #TaxTechnology can help drive #collaboration across teams and #automate the processes required to operationalise and monitor transfer pricing. Do not wait for an audit to review your transfer pricing processes. Investigate how you can transform your tax function today.

Explore how effective VAT management can transform a compliance burden into a powerful tool for enhancing liquidity and improving cash flow. Discover strategies that can significantly benefit your business. Learn more at https://okt.to/csOG5C.

📜 GSTR-1 Deadline is Here! November 30 is the last day to report or amend any missed invoices, or debit/credit notes for FY 2022-2023. Accurate reporting not only prevents errors but ensures a smooth tax journey ahead. Don't let oversight cost you. Count on UTS Consulting for a seamless filing process! #GSTR1 #ReportOnTime #TaxCompliance #InvoiceReporting #UTSConsulting #BusinessFinance #DeadlineAlert #SmoothFiling #TaxEfficiency

Simplify tax reporting and focus on growth with XTRM Automated Tax Reporting! 📈📝 Swipe through to discover how our platform ensures compliance, simplifies tax reporting for global payments, and supports both recipients and remitters with seamless data capture. Learn more at https://lnkd.in/gh5khBSP #TaxReporting #FinTech #XTRM #AutomatedTax #GlobalPayments #TPSO #1099K

An important update on local file CBC reporting - the ATO have updated their approach to the short form local file after listening to stakeholders. Major changes include a new message structure table (MST) format and more detailed disclosures, but less personal data collection on reporting lines. These tweaks aim to streamline the process, but there's still a lot to prep for. Read the Tax Alert to get all the details and let us know if you’d like a discussion. #ATOUpdates #TaxCompliance #CBReporting https://dy.si/MjTng

Real-Time TIN Verification: Reduce Errors, Avoid Penalties ⏰ Incorrect TINs can lead to costly backup withholding and IRS penalties. MassPay’s real-time TIN matching keeps your data accurate and secure, so you avoid these risks. ⛔️ Stay compliant, save time, and focus on what matters. Learn more, here: https://hubs.ly/Q02XVCvK0 #PayoutOrchestration #TaxManagement #ContractorTaxes

In today's fast-paced business environment, managing VAT effectively is crucial for enhancing cash flow. While it may seem like just another compliance hurdle, strategic VAT management can unlock significant liquidity benefits for your organization. Are you leveraging VAT strategies to optimize your cash flow? Discover how you can turn a compliance burden into a strategic advantage. Learn more here: https://okt.to/JSVDIj

🚨 Stay Compliant with RCM: Effortlessly Identify Goods & Services Under Reverse Charge Mechanism! 🚨 While preparing your GSTR 9 and 9C, it’s easy to overlook important details like ensuring GST under Reverse Charge Mechanism (RCM) is paid correctly. To make this process smoother, I’ve developed a powerful tool that helps you quickly identify the goods and services that fall under RCM. https://lnkd.in/d63ry6Ed With this tool, you can stay informed, updated, and most importantly, fully compliant! 💡📊 Ready to make your filing process hassle-free? Check it out now! 🔍 Follow this steps to download in your local PC 1. File > 2. Create a copy > 3. Download a copy Follow Nandan Modh for more such content Do share your views in comments Special Thanks Neel Shah for support in developing this tool 🙇♂️ #GSTCompliance #ReverseChargeMechanism #RCM #GSTR9 #TaxFiling #GST #TaxTechnology #BusinessCompliance #TaxTools #GSTUpdates #TaxSolutions #FinanceTools #BusinessTax #DigitalTax #FinTech