1. Home
  2. Tax and Accounting
  3. Future-proofing your business for VAT

TAX & ACCOUNTING

Future-proofing your business for VAT

Are your systems and processes up to standard?

In a region with little experience of indirect taxation, the introduction of VAT in 2018 was a paradigm shift for companies. In a business environment that saw rapid change to internal finance processes and to the technology and systems that support those processes, some companies have coped better than others.

Businesses have recognized two main challenges: identifying the right systems and implementing the correct processes. At the same time, tax authorities globally are pursuing more real-time reporting and beginning to delve into real data to find out what is factual as opposed to what is being reported.

With these trends, how can a business ensure that their VAT processes are compliant and future-proof? Thomson Reuters covers these areas in the latest article, breaking down the trends, challenges, and steps businesses must take to be prepared and future-proof their businesses for VAT.

 

You may also want to read:

Get a quick glance on you can become VAT-audit ready [PDF]

Download our info graphic to get a quick summary of the latest business trends, challenges & future outlook, as well as our suggested best practices on being prepared to confidently meet your VAT reporting and compliance needs.

Complete the form to receive a copy

Would you like to be contacted by our team to learn more about Thomson Reuters solutions?(Optional)