VAT reporting is often perceived to be a routine process easily manageable through a manual, spreadsheet driven process.
However, if you breakdown this process in individual steps and take a closer look, it becomes apparent that the overall process can be quite time-consuming and requires specific knowledge. And if you then add changes in business and regulatory changes to the equation, managing your global indirect tax reporting can become a daunting task.
A Generic VAT reporting process can be divided into a few steps:
Source Vertex
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