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Taxing The Cloud

Taxing The Cloud | Cloud Central | Scoop.it
Of nine states that have recently issued administrative guidance on the taxability of cloud computing services, only two have found the services taxable. The remaining seven have determined cloud computing is not taxable.
Peter Azzopardi's insight:

Cloud computing is borderless, so location is irrelevant — it doesn’t matter that a company is in Nevada, a software user in New York, and the servers on which the company runs its application in Texas ...........

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The taxman cometh for cloud services

The taxman cometh for cloud services | Cloud Central | Scoop.it
Cash-strapped states are enacting new taxes on computing and cloud-based services, opening a possible Pandora's box of confusion and lost cost savings
Peter Azzopardi's insight:

Not the least surprising and it is only the beginning. I am sure that we in Europe will also soon face this "music". Governments continue to mismanage their economies and as it has been for decades now, the taxpayer will once again be forced to pay for their incompetence.

 

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Tax study committee recommends exemption for cloud computing - VTDigger

Tax study committee recommends exemption for cloud computing - VTDigger | Cloud Central | Scoop.it

State lawmakers, tax officials, and representatives of the business and software communities voted 4-3 on Monday to exempt businesses from a tax on cloud computing services in a set of recommendations to the Legislature.

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Tax Issues In Cloud Computing | CloudTweaks.com

Tax Issues In Cloud Computing | CloudTweaks.com | Cloud Central | Scoop.it

Today, taking advantage of computing power has moved toward the subscription model away from the self-management and acquisition model. Through the subscription model, a business enterprise needs to tap into the skills of third-party managers in order to take advantage of the latest tools. The continuous evolution of cloud computing has provided many benefits to business, but it has also affected some of the present tax rules. Through cloud computing, accountants can access information and software anywhere, but location is an important consideration as regards taxation. Thus, there are challenges faced by cloud computing when it comes to tax regulations.

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Cloud Computing - Marking the Era of Green Accounting

Cloud Computing - Marking the Era of Green Accounting | Cloud Central | Scoop.it
In the present age,‘Green Technology’ is the evolving business vogue. As professional cultureprogresses and immense increase in small entrepreneurial firms is noticed,information storage and operational processing demands cost-effective solutio...
Peter Azzopardi's insight:
According to a survey, it has been observed that some of the most famous hosted applications for managing financial statements include:
Accounting- QuickBooks, Peachtree and MYOB (different versions for varying business requirements)
Taxing- Drake tax software, Lacerte tax software, ATX tax software and ProSeries tax software

 

Thanks to Aravinthan Asokan for the scoop.

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Cloud and Tax: What CIOs Need to Know Before Making the Move | Innovation Insights | Wired.com

Cloud and Tax: What CIOs Need to Know Before Making the Move | Innovation Insights | Wired.com | Cloud Central | Scoop.it
Image: scott*eric/Flickr Cloud computing is a technology megatrend that increasingly affects all industries, from technology companies such as cloud se
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Accounting Today: KPMG Compares National Taxes on Cloud Computing

Accounting Today: KPMG Compares National Taxes on Cloud Computing | Cloud Central | Scoop.it
KPMG has introduced an online resource that examines how tax authorities in 18 different countries are dealing with the challenge of taxing cloud computing services.
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