Digitalisation of tax systems is leading to more convoluted routes to VAT compliance

With the rise of accelerated digitalisation Taxback International is Taxback International is using skill and technology to handle the new complexities.

Tax systems throughout Europe are becoming digitalised meaning changes to the systems can be implemented almost instantaneously. As it becomes more widespread, as with Making Tax Digital for VAT (MTDfV) in the UK and Immediate Information System (SII) in Spain, businesses are feeling hard pressed to keep up with EU SAF-T reporting, changes in penalty regime and real-time reporting. Taxback International is one of the companies working to ease the burden. 

VAT managers are finding themselves overextended as they attempt to avoid penalties, track VAT obligations and thresholds and where and when registrations are required. It’s not difficult to make a small mistake which can result in VAT compliance breaches resulting in substantial penalties and consequences. Taxback International seeks to cut down on VAT stress, remove the risk to managers’ reputations and also ensures all obligations are correctly identified and met. Taxback International Chief Innovation Officer, Eamon Clune says:

“My areas of expertise are machine learning, artificial intelligence (AI) and Robotic Process Automation, so seeing this evolution and further progression into digitalisation is very exciting. I can’t think of anything more appealing than researching and exploring new technologies to use in tackling these new challenges.”

Taxback International combines innovative technology, deep industry expertise and value added partnerships to deliver comprehensive VAT solutions that maximise VAT reclaim and minimise risks, so you can focus on growing your business.

Taxback International is a member of The Taxback Group, a collection of global companies that deliver focus driven, digitalised solutions to simplify the complexity of global business.

The entrepreneurial spirit which characterized its inception in Ireland has continued to shape the products and services which they create. Taxback International recognises that one size doesn’t fit all and strive to create bespoke services that exactly meet the needs of a diverse client base.

VAT is complex.  Taxback International makes it simple.

Get in contact today to find out how they can help with effortless VAT Reclaim & Compliance.

Share This Post

About Author: Misc. Editors