- Omnichannel retail has become a top priority for retailers in recent years, as customers’ expectations have evolved and demand for integrated retail solutions has increased.
- An omnichannel strategy integrates multiple channels to provide a seamless shopping experience for customers.
- However, many retailers struggle with tax obligations when expanding into new territories, as VAT regulations vary by country and region.
- Only a small percentage of retailers have fully automated their tax systems across all jurisdictions.
- Tax technology solutions can simplify VAT compliance by providing accurate tax calculations, automated compliance processes, and real-time updates on changing regulations.
- Adopting an omnichannel strategy and utilizing tax technology is crucial for retailers to survive and achieve growth ambitions in today’s digital-first world.
Source International Tax Review
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