This announcement makes them the first tax compliance software provider to work with OpenAI.
Avalara's commitment to simplifying tax compliance for businesses drives the development of this new product. The company's dedication to applying innovative technologies to streamline the entire tax compliance journey is the driving force behind this endeavor.
Avalara primarily serves businesses through its cloud-based tax compliance solutions. These solutions cover a wide range of transaction taxes, including sales and use tax, VAT, GST, excise tax, communications tax, lodging tax, and other indirect tax types. They are offered in collaboration with leading ERP, accounting, e-commerce, and financial management system providers.
The newly introduced Avalara ChatGPT plugin delivers the functionality of a sales tax calculator. It empowers users to request the platform to calculate and provide accurate sales tax rates based on their location, making the process of determining sales tax for any transaction remarkably simple.
Users can inquire about sales tax rates or calculate taxes for specific transactions, with ChatGPT seamlessly incorporating the plugin as needed. Users also have the flexibility to input additional prompts or request further tax rates and calculations.
In alignment with OpenAI's principles of safe and responsible AI development, Avalara plans to roll out the plugin in phases, initially targeting ChatGPT Plus subscribers in the United States. Then, down the line the plugin will become available to users in other regions.
Avalara's dedication to leveraging AI for tax content management and product enhancement is exemplified in this initiative. It marks a significant step forward in providing customers with sales tax information, building on the success of Avalara's 2020 AI-driven tax classification tool and the preview of e-invoicing and returns APIs in 2022.
* Businesses and consumers must have a ChatGPT Plus account to install the Avalara plugin from ChatGPT's plugin store.
Read the article here for more information: Avalara's new ChatGPT plugin revolutionises sales tax calculation (fintech.global)
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