July 23, 2018
Digital tax administration is transforming business in every sector and every part of the world
Driven by the need to increase revenues, tax authorities have increased tax enforcement activity directed at indirect taxes, such as value-added tax, goods and services tax, and customs and excise duties. Businesses are required to provide detailed electronic information at the transactional level − often in real or near-real time, which allows tax authorities to apply sophisticated data analytics and use “big data” to support additional tax assessments and penalties.
These trends are increasing indirect tax controversy and changing its nature. In the digital age, tax disputes are as likely to arise from the accuracy of the data as from tax law or business issues. Tax executives need to be aware of, and prepared to respond to, this growing approach to indirect tax enforcement in order to better manage their company’s tax controversy and tax risk. Read more here: Managing indirect tax evolution and in the attached PDF.