- Indirect tax compliance is undergoing significant changes globally
- Tax authorities are moving towards e-reporting and e-invoicing
- The transformation of tax administration is creating a more networked and data-focused environment
- Companies need to reflect tax requirements in all financial systems and business processes
- Data quality must improve to meet tax authorities’ requirements
- Multinationals are facing new indirect tax compliance requirements in various countries
- A holistic and centralised approach is needed for addressing changes in indirect tax requirements
- Three key lessons for tax leaders include thinking digital, focusing on data quality, and ensuring compliance with evolving tax authority requirements
Source: internationaltaxreview.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.
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