Businesses have several ecosystems which help them achieve different objectives and meet the needs of the business. These are created between operations, people, data, software, and systems. Businesses have innovation hubs, product hubs, service hubs aimed at exploring new ideas, expanding new customer bases, interacting with customers, enhancing market share, working with regulatory bodies amongst many others. Ecosystems are built to achieve these.
Indirect tax is one of these ecosystems. Indirect tax ecosystems can have different objectives in different organisations – aside to compliant and timely tax reporting which is a regulatory requirement, this also includes effective indirect tax management, supporting finance objectives, amongst others.
Source VATGlobal
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