Tuesday, May 30, 2017

Dealing with Crossborder Transaction Tax Compliance Obligations

When a small business sends goods across borders, it will face significant crossborder transaction tax compliance obligations. And without fully understanding the relevant import/export regulations, businesses cannot know with certainty what they are actually allowed to ship to specific countries.  Yet, to be successful, a business must be able to understand, comply with, and financially account for import/export regulations and customs duty and tax costs.  A real catch-22 (dilemma).

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