VAT in the digital age: what it means for businesses

It is fair to say that taxation systems and processes are lagging behind the evolution of how we conduct business and e-commerce in 2022.

The global economy is becoming more frictionless: technology has opened up near limitless opportunities to sell products and services across borders. Digital transactions between business and customer have stepped into the spotlight more than ever over the past two years due to the pandemic.

This suggests that today’s international tax rules are not as fit as they could be for the realities of the modern global economy causing businesses a much larger tax and logistics headache when trading in an increasingly digital environment.

VAT in the digital age

Thankfully several initiatives are being worked on to help build a modern international tax framework to ensure a more seamless process for businesses and consumers with profits taxed where...