Recent developments: Complex reporting requirements in the European Union

Digital tax reporting requirements have arrived and are here to stay. As the global VAT gap continues to grow (estimated to be as high as half a trillion EUR), countries are increasingly using complex reporting requirements to gain insight into VAT activities. In this rapidly changing environment, it’s of utmost importance for companies to ensure their digital tax processes are in place and running without errors. This article provides an overview of some recent reporting developments within the EU that aim to tackle the VAT gap.

Source: SOVOS

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