Transform tax complexities into global growth

Global cross-border commerce presents numerous tax complexity and tax compliance challenges and in turn a risk to the customer experience you deliver. By using advanced technologies, maintaining transparency, and considering cross border tax solutions and tax outsourcing services, businesses can meet these challenges effectively.  

Three big challenges to address 

Tariff Codes 

Tariff codes, or Harmonised System (HS) codes, are used to classify goods and determine the applicable duties and taxes. Misclassification can lead to overpayment, fines, and legal issues. 

Incorrect tariff codes can cause delays at customs, resulting in longer delivery times and dissatisfied customers.  

Government cross-border selling restrictions 

Countries have varying restrictions on imports and exports, including prohibitions on certain goods and strict compliance requirements. 

Poor management of these restrictions can lead to shipping delays or the inability to deliver goods to customers. Clear communication is needed to manage customer expectations and experience. 

Transparency and flexibility to build customer relationship trust. 

Keeping customers informed about potential delays due to customs and regulatory compliance improves customer experience and trust. 

Offering flexible delivery options, making pricing clear and inclusive of all taxes and duties means your customers are not caught off guard by additional surprise costs. 

How can your businesses meet the challenges? 

Use automation and tax technology to maintain high-quality customer experience amidst tax complexity and tax compliance challenges  

Real-time monitoring in tax automation tools from Vertex supports compliance with global tax regulations, reduces manual errors and streamlines your tax processes.  

Advancements such as edge and cloud computing can help companies overcome tax complexity and tax compliance challenges with real-time data processing and compliance checks, so that cross-border transactions are managed efficiently and accurately. 

Want to know more? Watch our webcast 

Vertex and the Financial Times subject matter experts and tax professionals from Gymshark and Riot Games discuss the rise of online cross-border selling and how it’s created new tax complexity and tax compliance challenges.  

Hear insights, strategies and real-world experience around these key topics and what businesses can do to overcome obstacles and meet the challenges:   

Indirect tax law changes: The evolution of consumer behaviour since the pandemic and subsequent changes in indirect tax laws. Businesses must stay updated on these changes to avoid compliance issues. 

Tax compliance obstacles: Growing complexities in tax compliance that create obstacles for business growth. Fast-growing businesses have deployed various methods to overcome these challenges, such as leveraging cross border tax solutions and tax outsourcing services. 

Technological advancements: The use of edge and cloud computing to manage tax complexities more efficiently. How can these technologies support real-time compliance and data processing, for managing cross border tax? 

Outsourcing or internal transformation: Is it more efficient to outsource tax processes? Can tax outsourcing services provide the specialised compliance expertise and resources needed? 

Watch the webcast hosted by Vertex in partnership with the Financial Times