Every year, companies can unintentionally overpay up to 12% on invoices due to erroneous tax charges or missed exemptions.
However, only 34%* of finance and tax professionals reported they have a process in place to prevent overpayments and only 15%* conduct necessary audits to capture refunds.
While many CFOs recognize that the tax function plays a critical role to strategically reduce liabilities, few use this department as an opportunity to recover millions back to the bottom line.
By conducting a reverse sales and use tax audit, companies can identify potential liabilities, retrieve overpaid taxes from states and vendors, and improve processes to prevent lost capital.
This paper covers:
*Polled CPE webinar audience of 243 finance and tax professionals