The OECD’s Base Erosion and Profit Shifting (BEPS) initiative is transforming the global tax landscape. As the move towards greater tax transparency gains traction in the region, the GCC’s enterprises need to not only understand and meet all their regulatory compliance obligations locally, but also bring their tax strategies, processes and systems in line with international standards and laws.

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Thomson Reuters provides a quick summary of each country and where they are on their VAT journey; touches on lessons learned; and then focuses on how technology can help businesses to either get ready for the introduction of VAT or streamline their VAT compliance processes to ensure compliance in an increasingly digital tax environment.

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Thomson Reuters reviews the importance of VAT audits, best practices that can be adopted, and areas needed to be focused by businesses to ensure their systems and VAT processes are compliant.

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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.

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Thomson Reuters highlights 6 reasons why purpose-built VAT software that seamlessly integrates with existing business systems can help your business manage modern VAT demands with greater confidence.

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