- VAT technology solutions are important for global enterprises to gain control of their VAT reporting process.
- The key challenges that an automated VAT solution needs to solve include data integrity problems caused by multiple unstructured spend sources.
- Advanced AI models and tax expertise can improve data quality and automate manual checks.
- VAT solutions must comply with emerging digitalised reporting requirements and meet global government demands.
- For cross-border enterprises, a VAT solution needs to include automated and precise VAT calculation, VAT filing and reporting, compliance checks and validation, data consolidation and integration, audit trail and documentation, built-in policy adherence, multi-jurisdiction support, analytics and reporting, and centralised document storage and retrieval.
Source: bluedotcorp.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.
