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Real-Time Reporting Puts Corporate Tax Departments To The Test

Tax authorities around the world have gotten serious about technology. That’s creating some tough new challenges for multinational corporations.

Armed with e-invoicing and e-reporting tools that make it possible to collect transactional data in near real time, dozens of jurisdictions, including Brazil, Mexico, the U.K., Spain, Italy, Hungary, Poland and several others have introduced digital tax regimes that have flipped the script on traditional methods of tax collection. Instead of information being pushed from corporations to tax authorities, that information is now pulled by the authorities themselves — sometimes even at the point of a commercial transaction.

Source Forbes


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