Digital tax landscape
Tax authorities around the world are embarking on ambitious tax digitalisation programs, taking steps towards automated data collection and using advanced data analytics to close the tax gap. In Mexico, for example, all VAT invoices raised by businesses are automatically sent to the tax authorities who will then allocate the corresponding VAT claim to the relevant customer. Whilst it is behind the curve to some of its global counterparts, the introduction of Making Tax Digital has been a big step forward for HMRC in transforming the way it receives taxpayer data.
Source RSM
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