Closing the VAT Gap—Automating Tax Compliance in a Digital World

The digital economy is currently the equivalent of 15.5% of global GDP and is growing at an astonishing rate—two and a half times faster than global GDP over the past 15 years. We can safely say that the rise of the internet economy has been rapid and impactful.

As a direct result of this, during the last decade countries across the world have rushed to introduce new rules and regulations to try and tax the revenue that’s being generated through this digital economy.

Source Bloombergtax

---

---