The essentials of value-added tax governance
INSIGHT ARTICLE |
Transactional finance data is the new battleground for tax authorities—businesses across the globe need to take steps to assure the quality and integrity of that data and the processes that manage it. The increased access to business data by tax authorities and their use of technology to review and analyze data means that reporting accuracy is much easier to confirm; it is also much easier to identify errors.
Since the passage of the Sarbanes-Oxley Act and other recent legislation, companies are focused more than ever on developing effective controls around their financial and tax affairs. In this white paper, we examine two of the key elements of value-added tax (VAT) governance: risk management and best practices. Although no two businesses are the same, we highlight possible approaches to these concepts and suggest ways to enhance tax governance.
Most recent value-added tax insights
New guidance from the UK’s Her Majesty’s Revenue and Customs provides more clarity for businesses engaged digital asset businesses.
A recent opinion by the Advocate General (AG) for the European Court of Justice (ECJ) opens the door for pharmaceutical companies to potentially claw back previously charged value added tax (VAT).
Choosing tax automation software requires an understanding of how certain solutions apply to different types of businesses.