- Concept of due diligence has become popular in tax world
- Due diligence involves verifying contractors and transaction circumstances to prevent tax fraud
- Due diligence is necessary for taxpayer protection
- New EU regulations like CBAM and EUDR also refer to due diligence concept
- Businesses dealing with products under EUDR must implement due diligence system
- Businesses under CBAM should consider expanding due diligence activities
- Compliance with CBAM obligations can affect penalty amount for non-compliance
- Implementing proper procedures can ensure compliance with regulations
Source: crido.pl
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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