Global Trend – Electronic Invoicing and Digital Tax Reporting

Countries are increasingly transitioning to digital tax reporting systems to combat tax fraud, evasion, and avoidance. Tax authorities aim to develop more effective systems, while businesses see the benefits of operating more efficiently. This shift towards electronic channels for data transmission is inevitable on a global scale, with electronic invoicing being a popular choice for combating tax fraud. Various digital reporting mechanisms are being implemented to capture and analyze sales data for tax auditing or pre-filing tax returns.

Source 1stopvat