70 Years of VAT: Key Insights and Innovations from the 2024 International VAT Association Conference

• The IVA Conference marked 70 years of VAT and focused on its evolution and future in a changing global economy.
• Key discussions included strengthening VAT/GST systems in developing countries, especially for small enterprises, refund mechanisms, and leveraging new technologies.
• The Indirect Taxation Subcommittee addressed balancing efficient VAT refunds (especially for exports and capital expenditures) with fraud prevention.
• Technological innovation, including AI and blockchain, is transforming VAT compliance and enforcement, as shared by Brazil, France, and Chile.
• The European Commission’s ViDA initiative aims to modernize and simplify VAT across the EU, adapting it to the digital economy.

Source: tax.athene.no

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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