Automated Tax Rating and Invoice Generation
Service providers who offer landline, wireless, cable, internet, or VoIP services must understand the complex taxes and fees that apply to them. The specific taxes imposed on telecom services can vary depending on the country, state, or jurisdiction.
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TimelyBill automates the billing of complex taxes and fees.
We simplify the tax rating aspect of generating telecom invoices by leveraging our relationships with some of the top telecom tax databases.
TimelyBill is partnered with CereTax and CSI. This provides telecom businesses with a streamlined solution that simplifies billing while addressing the complexities of communications taxes. By combining the robust billing capabilities of TimelyBill with the advanced tax automation expertise of CereTax and CSIs, these partnerships improve operational efficiency and reduce the burden of tax compliance for telecom companies.
It also allows telecom businesses to manage billing and tax calculations within a unified system. The goal is to provide a more innovative, faster, and more adaptable tax automation solution, reducing risks and allowing businesses to concentrate on growth. Given the telecom industry's ever-evolving regulatory landscape, this partnership ensures companies remain compliant without unnecessary complexities.
What Kind of Taxes do Telecoms Need to Worry About?
Telecom taxes can be imposed as a flat fee or as a percentage of the cost of telecommunications services. They may also be collected as part of a person's or business's monthly bill from their provider.
Here are some standard taxes and fees that could potentially apply to communications services
- Sales Tax: This is a general tax imposed on the sale of goods and services. The rate may vary depending on the location.
- Federal Universal Service Fund (USF) Fee: In the United States, the USF fee is imposed on telecommunications services, including VoIP, to support expanding telecommunications services in underserved areas.
- Emergency 911 (E911) Fee: This fee helps fund the infrastructure and systems required to provide accurate caller location information in case of emergency calls.
- Regulatory Fees: Some jurisdictions impose regulatory fees to cover the costs of regulating telecommunications services.
- State and Local Taxes: Additional taxes can include specific surcharges local governments impose depending on the jurisdiction.
It's important to note that taxes and fees can vary significantly depending on location. For the most accurate and up-to-date information regarding telco taxes, it's advisable to contact a tax compliance professional.
Unified Billing + Taxation
Our robust taxing integrations enable CSPs to accomplish the following tasks:
- Keep current on rates for states and jurisdictions
- Customize rates and rules
- Categorize revenue for better reporting
- Reduce the risk of audit liability or lost revenue
- Look up US and international rates
- Refund taxes with service credits or adjustments
- Override tax codes and descriptions
- Create tax grouping for invoice display
- Generate reports for internal and regulatory purposes
TimelyBill can help solve your telecom tax issues by applying up-to-date rates, automating complex math, and accurately presenting them on customer invoices.
As an industry leading billing platform, TimelyBill's tax rating component enables us to provide accurate taxation.
Related Post: 10 Things That Should Be Included in a Telecom Invoice