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VAT in the digital age: what it means for businesses

16 March 2022 / Alex Baulf
Issue: 4832 / Categories: Comment & Analysis
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Moving with the times

Key points

  • The consultation shows that the European Commission is taking steps to progress its tax digitalisation agenda.
  • The commission is canvassing opinions from all stakeholders on nine options under consideration.
  • Organisations should approach the consultation and prospect of taxation change positively.
  • Increased digitalisation can create opportunities and make VAT logistics simpler for businesses.

It is fair to say that taxation systems and processes are lagging behind the evolution of how we conduct business and e-commerce in 2022.

The global economy is becoming more frictionless: technology has opened up near limitless opportunities to sell products and services across borders. Digital transactions between business and customer have stepped into the spotlight more than ever over the past two years due to the pandemic.

This suggests that today’s international tax rules are not as fit as they could be for the realities of the modern global economy...

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