Retail Tax Solution
Tax Interchange for Retail and Restaurants (TIFR)

DMA’s point-of-sale (POS) retail tax solution, Tax Interchange for Retail and Restaurants, is a best-in-class application providing end-to-end visibility across tax rates and rules changes, product additions, opening and closing of store locations, status of POS changes, sales tax holidays, and tax compliance reporting capabilities including a complete audit trail for audit defense.

DMA understands the unique challenges and demands facing tax departments in the retail and restaurant industry. We realize that there are abundant complexities in retail tax departments, including:

• Ever-changing tax rates and rules
• Disparate systems and technologies
• Multi-channel retail environments
• Increased mergers and acquisition
• Greater consumer demands

These complexities coupled with lack of access to data for reporting, compliance, and audit defense tend to create significant difficulties for retail tax departments. TIFR solves these problems by providing:

• Improved compliance, which reduces audit exposure. Automatically stay current with tax rules and regulations, and reduce audit exposure

• Deeper business insights. Dashboards provide visibility and control of changing tax rates, rules, product mappings, and other changes impacting tax liability (sales tax, meals tax, etc.)

• Powerful reporting. Reporting and compliance functions streamline preparation of returns, reconciliation of tax liabilities, and audit defense

• Tax department focus. Relieves the burden of tax rules and rates maintenance on the IT department by giving control to the Tax Department

• Scalable and flexible. Scalable to meet the needs of large, complex companies while still nimble to meet the needs of small-to-medium businesses

• POS integrations. Integrates with leading POS systems to load tax rate and rule updates and send tax results back into the TIFR system

• Third-party integrations. Valuable integrations with multiple content providers (Avalara, Sovos, Wolters Kluwer, and more)

• Highly secure. Promotes a greater level of Sarbanes-Oxley compliance by utilizing role-based security and detailed audit trails

• Low Total Cost of Ownership (TCO). SaaS-based solution with nothing hosted on your servers ensures low TCO

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