The following is an excerpt from “Trends in Continuous Global VAT Compliance,” the 11th edition of the industry’s most comprehensive guide to e-invoicing, e-archiving and
The International Chamber of Commerce (ICC) has released the new 2020 version of the Incoterms. Incoterms are important business shorthand and understanding their express meaning
HMRC administers the whole of the tax system for the UK and Northern Ireland. Although there are some 5.7 million active businesses in the UK,
Mexico is introducing a tax reform to be enforced on 1 January 2020, implementing a general anti-abuse rule. Its aim is to increase governmental control
For those following the ongoing tax control reform in India, 2019 has been a very eventful year for Indian e-invoicing. Starting last spring, a group
Mandatory SAF-T (Standard Audit File-Tax) reporting will be introduced in Norway from 1 January 2020. Use of SAF-T, a standardized XML format containing exported accounting
Companies are dealing with a fundamental shift in the way they do business with trading partners. In a rapidly increasing number of countries, there’s a
In Europe, Poland seems to be the first country to move away from the traditional VAT return replacing it with a detailed Standard Audit File
Since July 2018, taxpayers in Hungary have been obliged to disclose the data of electronic invoices issued for transactions with accounted VAT exceeding HUF 100,000
The value of data is rising The value of data is becoming more precious than oil. Technology has transformed market dynamics across all sectors and
Part 4 – Call-Off Stock Arrangements This is the last in a series of four blogs providing explanatory detail to the EU’s “2020 Quick Fixes”
The Italian government has introduced an ambitious new program for collecting VAT, under which the tax authorities will pre-populate VAT returns on behalf of taxpayers.
Part 3: Chain Transactions This is the third in a series of four blogs providing explanatory detail to the EU’s “2020 Quick Fixes” that aim
Part 2: The Exemptions of Intra-Community Supplies of Goods This is the second in a series of four blogs providing explanatory detail to the EU’s
It’s no longer controversial to say that real-time VAT control initiatives such as e-invoice clearance or real-time reporting are becoming increasingly popular with governments and
Part 1: VAT Identification of the Customer We recently wrote about the EU’s latest report on the “VAT Gap” – the overall difference between the
In September, the European Commission released its latest study on the so-called ‘VAT Gap’. The VAT Gap is defined as the difference between the amount
What to Expect Next In Parts One and Two of this series on the VAT MOSS scheme for digital services we provided a background, considerations for