For far too long, global businesses would assume that indirect taxes including VAT ought to reside in the domain of local subsidiaries. Now, as tax administrations accelerate their digital transformation strategies, this mindset is not just untenable: it’s a profound danger to the very lifeblood of businesses’ digital transformation efforts.
Across the world, the effects of the sweeping trend of continuous transaction controls (CTCs) implemented by governments – in order to tighten up VAT enforcement – are still being felt by countless organisations and citizens.
Source Financederivative
