Countries shift VAT reporting from suppliers to customers to reduce VAT fraud – General & Domestic Reverse Charge by country In attempt to reduce the VAT Gap – the shortfall of VAT revenues compared to expected receipts – EU and other states apply the Reverse
Tax codes are used to communicate VAT calculations and reporting between systems. But are they essential if they’re slowing down implementations, and driving-up installation and maintenance costs? There is a lot to love about VAT Calc’s single application for global VAT and GST calculations and
World’s first single VAT/GST determination and reporting platform for all businesses As cross-border trade grows, and tax authorities take a closer look for more VAT or GST revenues, it’s vital to get your indirect tax determination accurate at the first attempt and ensure the liabilities
Real-time transaction-based reporting and pre-clearance of VAT invoices to tax authorities to improve tax collections and simplify compliance Governments seize control of invoicing process As governments around the world look to close the VAT Gap – missed VAT or GST tax collections – many are
Tax Engines are essential as tax authorities move to e-invoicing & live reporting. And they no longer need to be expensive or excruciating to implement A ‘tax engine’ is a specialist software application used to calculate the correct VAT, GST or sales tax on a
Tax authorities migrating from VAT returns to digital reporting requirements, including: e-invoices; real-time reporting; SAF-T; Control Statements; pre-filled VAT returns; freight transport e-registers; and fiscal cash registers Driven by stubborn VAT fraud and other missing indirect tax revenues – the EU VAT Gap is €136billion
