National tax agencies in Europe and beyond are increasingly turning to Artificial Intelligence tools to help bring down stubborn Value Added Tax fraud leakage. The EU estimates it loses €50 billion per annum in VAT fraud, part of a wider €93 billion annual EU VAT Gap.
Key areas where AI can assist tax authorities with VAT administration:
- Risk Assessments
- VAT fraud exposure
- Large data analysis
- VAT payer guidance
Source: vatcalc.com
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