Can new, digitally enabled approaches solve traditional tax challenges?

VAT is a major source of revenue for governments around the world. Therefore, it is essential that the processes and systems in place are continuously reviewed to maximize tax collection. As more governments around the world seek to transform their tax systems, digital technology has the potential to reshape and improve VAT compliance on a global scale.

Some countries like Azerbaijan, Ukraine, Estonia and Spain have introduced systems like the split payment mechanism and online registration of e-invoices. Whereas the introduction of reverse charge mechanism in the EU has shown success and gaps in the system. These are examples of countries introducing digital technology to reshape and improve VAT compliance, ultimately shaping the way companies record, store and report on VAT data.

We have partnered with Crowe LF Ukraine, as they propose alternative methods of VAT collection, discuss the role that new technologies could play in combating VAT fraud, streamlining tax systems and increasing government revenue.

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