Businesses must quickly adapt to VAT rate changes to ensure compliance and financial stability. Understanding the new rate and its implementation date is crucial, along with reviewing official announcements, consulting with tax experts, and staying updated. Accounting systems and software should be updated to reflect the new VAT rates, with verification of automatic updates, synchronization across systems, and staff training on any new features or changes.
Source Taxually
Global Upcoming VAT Rate changes – Chronological, click HERE
