- Significant changes in tax legislation in the Nordic region include a rewritten Value Added Tax Act in Sweden and new bookkeeping legislation in Denmark
- The Carbon Border Adjustment Mechanism (CBAM) and e-invoicing mandates across EMEA are also significant legislative changes
- The impact of these changes includes additional reporting measures and investments in compliance processes and technology
- Tax practitioners are adapting to the changes by scaling up cooperation and increasing speed in serving clients
- Potential future legislative changes may include developments in environmental taxes and VAT in the Digital Age
- Implementing these changes may reinforce compliance and data management focus
- Efforts to harmonize rules and implementation measures across borders are important for organizations
- Suggestions for regulatory changes include applying centrally decided rules on e-invoicing for domestic transactions and aligning local legislation with the EU VAT Directive
- These changes could help improve the tax landscape by promoting digitalization and alignment with EU regulations.
Source: internationaltaxreview.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.
