Exemption certificates are one of the leading causes of penalties and assessments when under audit. Yet many companies aren’t aware of missing or invalid certificates until after the audit. By companies trying to stay compliance with exemption certificates. This compliance for exemption certificates can be time- consuming and very labor-intensive, not to mention this can leave your business focusing on lots of paperwork, not tax work, or the core business of the team. That’s where Sarus’s Exemption Certificate
Outsourcing services come in.
Exemption Certificate Outsourcing Services
Tax Certificate Consolidation and Validation
» SARUS will scan, index, and validate the SUT documents received
⋅ Scanning, indexing and sufficiency review will be performed by experienced personnel locally at SARUS HQ.
⋅ Sufficiency review will be based on the Clients requirements and legal requirements by tax jurisdiction and rules of acceptance.
⋅ Documents are stored in a secure facility throughout the document conversion process and can be returned or destroyed at your request. If not otherwise specified, Sarus will return the documents to client and the shipping cost will be billed back at cost.
» Import these SUT documents into the designated software
» Migrate the existing databases of electronic SUT documents and metadata into the ECM Software.
» All documents will be consolidated into a single system simplifying access by tax personnel, related departments, and auditors if allowed.
Update Current SUT documents (missing/invalid SUT documents)
» Sarus would perform a one-time refresh of all of the existing SUT documents for missing and invalid SUT documents during the conversion process.
» We will identify, collect and refresh missing, expired and/or incorrect SUT documents.
» Using customized letter content, we will initiate a mailing campaign that will request updates from all affected entities.
⋅ We will handle all aspects of the mailing process including printing and addressing letters, folding, stuffing, postage, and handling.
⋅ Mail all letters at whatever rate the volume of mail qualifies for (150 or more qualifies for bulk mail rates).
⋅ Provide multiple mailings to ensure that a complete and sufficient response is attained.
In addition to the value derived from Part 1:
» Relieve the burden on store and tax personnel in handling updates on an ad hoc basis. Avoid omissions and gaps in the currency, completeness, and correctness in the consolidated tax certificate database in Teams. Save expense, as outsourcing this function to Sarus as they are cost effective than keeping it in-house.
» Free up personnel for more important mission critical tasks.
» Minimize audit/assessment exposure and risk.
Validation and mailing services:
» Validation services (includes validation, scanning, and indexing) SUT documents will be validated based on your corporate governance rules of exemption acceptance.
» Mailing services – includes stamp, envelope, dedicated PO Box reply box and dedicated email for remittance.