Tags:Internet of ThingsITLocalProductPropertyRealRentalSalesServiceTime
We make sales tax compliance as easy as sending an email At Ascribd, we're on a mission to create a more open, accountable and easier-to-understand system of taxation. Our first product is a compliance API and settlement endpoint for the $11 billion in uncollected sales and use tax. It identifies appropriate tax authorities for each transaction, and instead of monthly batches, it calculates and remits amounts in real-time, driving down compliance costs. Some tax authorities think we could actually eliminate administration costs, which for some merchants amount to millions of dollars. Ascribing tax in real time has potential uses beyond sales tax. We see services such as property tax, percentage rent for malls and easements for the IoT that would have a regulatory advantage were local tax already built-in.
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