Revolutionising Business Operations: E-Invoicing and Tax Compliance
The advent of e-invoicing is reshaping how companies manage invoices and navigate the complexities of tax compliance globally. With tax regulations varying from one country to another, businesses operating internationally face substantial challenges. The European Commission is making headway in harmonising tax regulations, but what does this mean for your business?
Embracing Continuous Transaction Controls (CTC)
The European VAT gap stood at a staggering €93 billion in 2020 alone. New regulations aim to close this gap through real-time monitoring and regulation of business transactions. E-invoicing and CTC are at the forefront of this transformation. Countries like Poland, Italy, and Belgium have already made e-invoicing mandatory, and the EU is planning to follow suit by 2028.
Navigating VAT in the Digital Age (ViDA)
ViDA is poised to standardize VAT reporting across the EU. The impact on businesses will be profound, mandating B2B e-invoicing by January 2024 and making e-invoicing the default method by January 2028.
Read the Full Article for In-Depth Insights
Discover how the landscape of business operations is undergoing a significant transformation, driven by e-invoicing and new tax compliance strategies. Learn how Kefron can help you navigate these complexities effortlessly.
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