How Your Tax Returns Can Help You Understand GHS Conversion

Performing the GHS conversion process is very similar to filing your tax returns with programs like TurboTax. How?

 

1. In both situations, you start with government-mandated activities that have government-mandated deadlines. That means the conversion experience feels a lot like filing your taxes: you hope to get it done early and easily, but if you don’t becomes a stressful and regret-filled time crunch.

 

2. When either process is done by hand, it is incredibly labor- and time-intensive – which is why most people buy software or hire an expert.

 

3. There are financial repercussions for both. Late tax payments bring fines from the government up to 25% of the total tax owed, and the penalties for failing to meet OSHA standards max out at $7,000 fine per violation of the Hazard Communication Standard, which can add up quickly.

 

4. Other  repercussions are also similar. When you don’t report taxes in time, the IRS can audit you and potentially interfere with your business and finances. Failing to meet the GHS standard will definitely affect more people than just you and your company. If you do not have proper SDSs in place, customers to whom you supply chemicals will also find themselves not meeting GHS regulations and may experience fines and/or accidents due to improper hazard warnings as a result. The Globally Harmonized System exists to provide proper safety warnings that can be read worldwide, and so failing to update your safety data sheets to this standard is a safety issue as well as a regulatory one.

 

Tax filing and GHS SDS compliance should be treated with a fair amount of urgency. You will have the easiest time with both when you get a head start. The earlier you act, the easier your process will be.

 

Additionally, if you produce raw materials or mixtures used as ingredients for other chemicals, the earlier you can provide new SDSs, the earlier your customers will be able to get a start on creating their own new compliant safety data sheets. Furthermore, any services you may need for your MSDS to SDS conversion will be more easily accessible before the months leading up to the June 2015 UN GHS deadline, as demand will increase in those last few months and conversion companies will likely get too busy to take on many new clients.

 

Our product and service guarantees are a final similarity:  we promise accuracy, fast turnaround times, multiple formats, training and readily accessible experts.

 

We’re here to make it easy for you to meet the deadline.

 

 

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