- Digitalization of tax systems is becoming more prevalent, requiring businesses to update their financial and accounting systems to ensure compliance.
- The expansion of Goods and Services Tax (GST) and Value-Added Tax (VAT) systems is occurring globally, with a focus on capturing revenue from the digital economy.
- E-commerce is facing increased regulatory scrutiny, with new regulations requiring platforms and sellers to register for and remit taxes, aiming to level the playing field and close tax loopholes.
Source Taxually
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