Tax compliance is no easy task. I am sure that some businesses would appreciate a magic wand to wish away their tax reporting.
It can differ considerably from country to country, which in the past has meant a great deal of deliberation for businesses that need to submit tax returns for multiple jurisdictions.
We are currently seeing the emergence of continuous transaction controls across Europe as tax authorities in France, Romania and Poland, for example, are moving to real-time transactional VAT reporting.
Additionally, the EU e-commerce VAT package has been introduced over the past year to simplify specific EU VAT compliance into a single VAT return.
These have affected UK businesses transacting with customers in other regions, as changes to filing regulations require a partner with local knowledge of filing dates, local language and someone to stay in tune with any further updates.
Source FT adviser
