175 countries have implemented VAT or GST – June 2023 Since the first introduction of a Value Added Tax in France in 1954, it has now been adopted by 175 countries around the world. This follows the adoption of VAT / GST this month by
How tax codes help ERP’s and tax engines get global VAT calculations and reporting right Tax codes provide the information tax engines, ERP’s or accounting systems need to correctly identify the right VAT, GST or sales tax rates and reporting for any transaction. Whilst there
Persistent, huge VAT fraud issues push tax authorities to adopt Machine Learning and Generative Artificial Intelligence National tax agencies in Europe and beyond are increasingly turning to Artificial Intelligence tools to help bring down stubborn Value Added Tax fraud leakage. The EU estimates it loses
Will ChatGPT and other natural language Artificial Intelligence chatbots produce reliable VAT advice? No. And yes. Whilst Artificial Intelligence (‘AI’) tools have boomed in the hunt for VAT evasion, its over confidence in delivering ‘hallucinatory’ written advice has sunk it as a credible advisor. Its
