Sales tax is a tax imposed by the central / local government on retail goods and services at the point of sale. The tax is collected by retailers and passed on to the state. Sales tax is a percentage levied on the selling price of goods and services.
Types of Sales Tax
Professional accounting firms help individuals, companies and other forms of businesses to fill and compute sales tax and also pay it to the local or central government. This further helps the company management concentrate on more important issues. Essential food items, prescriptive drugs are exempt from sales tax to cause less burden to the poor.
Outsourcing sales tax computation has the following benefits: