The assignee for this patent, patent number 8620777, is
Reporters obtained the following quote from the background information supplied by the inventors: "Besides an income tax system which imposes income-related tax liabilities on individuals and corporations, most countries have a transaction tax system. A transaction tax liability is induced by an individual commercial transaction, such as the sale of a good, the purchase of a service or the like. Typically, the transaction tax is a certain percentage of the price of the good or service. Normally, the transaction tax is collected by the vendor or service provider, who pays the accumulated transaction tax at certain time intervals (e.g. monthly) to a tax authority (for the sake of simplicity, the following description only mentions the purchase of goods, but is likewise directed to the provision of services etc.).
"Throughout the world, there are mainly two different transaction tax systems: sales and use tax and value added tax (VAT). In a sales and use tax system, which is imposed in most states throughout
"Besides these principal differences between sales and use tax and value added tax, the transaction tax regulations vary from country to country, and, in
"In view of the ever-growing internationalization and globalization of enterprises and trade, there is a need for computerized systems which enable enterprises to fulfill the transaction tax requirements (preferably for different countries and states) in an efficient way.
"Several products of this kind are already on the market. In one type of product, an enterprise resource planning (ERP) application (which traditionally provides for accounting, manufacturing logistics, supply-chain management, sales-force automation, customer service and support, human resources management, etc.) also enables the user to deal with the transaction taxes. For example, the ERP product R/3 by SAP provides a facility for transition tax calculation for different European countries, but not for
"Moreover, U.S. Pat. No. 6,078,899 discloses a point of sale tax reporting and automatic collection system. U.S. Pat. No. 6,298,333 discloses a computer system and method which provides a solution for a particular transaction tax related problem, namely the determination of correct use tax on moveable equipment for leasing companies.
"In most jurisdictions it is required that transaction data of tax-relevant transactions are recorded or 'logged' on transaction-by-transaction basis. In the known transition tax program products, the recording of transactions is intimately linked with the tax calculation functionality provided by these programs."
In addition to obtaining background information on this patent, VerticalNews editors also obtained the inventors' summary information for this patent: "The invention provides a computer-based method for logging transaction-tax-related transactions. The method uses rules which define, depending on transaction data, what transactions have to be logged. The method comprises: receiving a logging request for a transaction; evaluating the logging rules with transaction data of said transaction, logging said transaction if the result of the evaluation demands it.
"According to another aspect, the invention provides a computer-based method for logging transaction-tax-related transactions. It uses rules which define, depending on transaction data, what data items have to be logged. The method comprises: receiving a logging request for a transaction; evaluating the logging rules with transaction data of said transaction; logging a selection of data items of the transaction according to the result of the evaluation.
"According to still another aspect, the invention provides a software module for logging transaction-tax related transactions for use in a transaction-tax processing application. The logging module comprises: a logging rule evaluation component; a logging component for logging a transaction depending on an evaluation of logging rules for said transaction.
"According to yet another aspect, the invention provides a software module for logging transaction-tax related transactions for use in a transaction-tax processing application. The application comprises a module for transaction-tax calculation. The logging module comprises: an interface for receiving a logging request for a transaction; a logging component for logging the transaction. The logging module is callable independently of the module for transaction-tax calculation.
"Finally, the invention is also directed to a software application for computer-based transition-tax processing. The application comprises a software module for logging transaction-tax related transactions according to logging rules. The application provides a logging rule configuration interface which enables the logging rules to be input and configured by a user without a need to change hard-coded programs. The logging module comprises a component for reading the rules input via the logging rule configuration interface."
For more information, see this patent: Bross, Wolfgang; Heumueller,
Keywords for this news article include: Software,
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