- Artificial intelligence (AI) is transforming sales tax compliance processes
- Sales tax compliance involves adhering to regulations for collecting, reporting, and remitting sales taxes
- AI is used in data extraction, predictive analytics, automation of compliance tasks, and audit support
- Benefits of AI in sales tax compliance include improved accuracy, cost efficiency, time savings, and scalability
- Challenges of AI adoption in sales tax compliance include data privacy, regulatory compliance, integration complexity, and skills gap
Source: complyt.io
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
