What are the ten most common VAT compliance issues?
- VAT compliance deadlines missed
- Penalties applied because of changes in tax jurisdictions
- Regional third party tax advisors charge too much & deliver too little
- Time-consuming VAT compliance processes
- Entering new markets means new VAT compliance challenges
- Disconnected internal business entities make it hard to change and be consistent
- Errors and anomalies need drawn-out investigation and fixes
- Regional tax offices depend on multiple contact points
- Distributed and siloed data make analysis hard
- Disconnected systems hinder payment processes
Source Taxbackinternational
