It’s been interesting to witness the pace at which new indirect tax compliance terminology and buzz words crop up. Phrases like: real-time tax reporting, e-invoicing, pre- approval of invoices, pre-populated VAT returns, SAF-T are keeping tax departments around the world on their feet.
Furthermore, the terminology and requirements vary by country. This can make implementation challenging because you’ll need to understand what these new requirements mean exactly for indirect tax compliance.
Source: vatglobal.com
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