In today’s digital age, businesses face increasing demands for transparency and accuracy in tax reporting. Digital Reporting Requirements (DRR) are reshaping VAT obligations, with continuous or periodic digital submission of transaction data to tax authorities. DRR differs from traditional tax reporting by enabling real-time monitoring, combating VAT fraud, and improving VAT reporting accuracy. Various technologies, such as e-invoicing platforms and compliance software, are available to assist businesses in meeting DRR.
Source Fonoa
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