- Global switch to indirect tax set for boost from Artificial Intelligence
- AI can exploit well-defined and curated data to boost indirect tax collections
- AI-driven algorithms and machine learning techniques can analyze and interpret large and complex VAT transaction datasets
- Tax authorities are ahead of in-house VAT departments in using AI
- AI can assist tax authorities with VAT administration in areas such as risk assessments, VAT fraud exposure, and large data analysis
- AI can provide VAT advice to taxpayers without the need for large teams of VAT experts
Source: vatcalc.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
