- Up to 75% of global businesses accept a certain level of tax compliance risk in relation to indirect taxes
- 84% of respondents feel personally exposed by the level of compliance within their business
- 90% of US-based respondents consider their businesses to be risk prone compared to 56% of those based in France, Italy, or Spain
- Businesses in the UK and Ireland fall in the middle, at 72%
- Compliance with regulation costs around 20% of businesses’ revenue on average
- Over 70% of respondents consider their businesses to have a good or fully future-proofed strategy for dealing with indirect tax
- Businesses may prioritize survival or commercial expansion over indirect tax compliance
- 60% of respondents believe that common global tax standards and greater digitalization of government tax systems would enhance compliance.
Source: taxjournal.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
