Sérgio Vasques of Lobo Vasques discusses the challenges less robust tax administrations face when applying VAT to e-commerce.
His solutions include a model that seems to be similar to the new EU VAT e-commerce rules in the EU, that came into force on 1 July 2021. “The implementation of these solutions requires the creation of simplified registration rules and dedicated interfaces that can facilitate the payment of VAT by non-resident suppliers, as well as access to information from financial intermediaries that allows monitoring the taxable operations performed by each foreign supplier.”
He concludes that it’s easier said than done.
Source: internationaltaxreview.com
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