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Why businesses need to act fast in preparing for big-data driven collection and enforcement

https://www.accountancyage.com/2018/12/10/why-businesses-need-to-act-fast-in-preparing-for-big-data-driven-collection-and-enforcement/
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Dec 10, 2018 3:00 AM 4+ mon ago

Why businesses need to act fast in preparing for big-data driven collection and enforcement - Accountancy Age

Nicholas Hallam, CEO of Accordance VAT, on how automation is changing the VAT process across the EU - and what the limitations will be

The tax world is changing, and fast. Globalisation and the proliferation of new technologies have created an environment in which it is increasingly hard for authorities to collect traditional income and corporate taxes.

Assets can be shifted across the world with the lightest click or swipe. Nevertheless, the demands for increased public spending grow daily. Health and social care costs for ageing populations living longer on their own thanks to technological progress threaten to bankrupt mature economies in coming decades.

Populist resentment at a perceived footloose parasitic global elite is, as in France last week, erupting into resistance and violence. The OECD has repeatedly pointed out that sales and consumption taxes, which are at least in ...

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