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VAT Compliance Challenges: Businesses face complex, evolving VAT rules across jurisdictions. Manual processes create risks of errors, delays, and missed deadlines, leading to costly penalties, wasted man-hours, and reputational damage globally.
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Penalties Worldwide: Countries impose strict sanctions for VAT non-compliance, from Belgium’s 200% surcharge and multimillion fines to Italy’s 240% penalties, Germany’s personal liability, and UAE’s escalating fines for repeated violations.
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Financial & Reputational Risks: Non-compliance results in significant costs through penalties, interest charges, and watch listings, while damaging investor, customer, and tax authority trust, undermining credibility and long-term business resilience.
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Comply Solution: Comply automates VAT compliance across 180+ jurisdictions, integrates with ERP systems, and ensures timely, accurate filings, reducing manual effort from hours to minutes while eliminating exposure to penalties and risks.
Source: fintua.com
Latest Posts in "World"
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