Under the present system, governments face many difficulties in accounting for sales tax dollars because tax authorities are not equipped to effectively interact with businesses. As a result, consumers:
- The consumer doesn't get a receipt that verifies that theri hard earned tax dollars have reached the proper tax authorities.
- Are burdened with additional taxes to compensate for insufficient revenue collection.
- Suffers for reduced government services due to uncollected revenue.
For the first time, government tax authorities and businesses will have a platform on which to exchange tax information. ATRACS patented tax collection system will allow tax authorities to communicate with businesses quickly and efficiently. Then new system is simple and it benefits the business and the consumer, as well as the respective tax authority. As a result, consumers:
- Will receive a government issued receipt after every purchase, which will verify that the sales tax transaction has been recorded by the state.
- Ensures that the existing government system is working as intended.
- Will benefit from additional government income.