With small businesses operating as the backbone of any developing economy, often providing up to half of GDP (as in the UK), their longevity is of crucial importance to governments from all over the world.
With the rise of cryptocurrency in the last decade, it has led to a lot of questions around the world about personal tax and VAT implications.
Electronic publishing has been steadily on the rise with the rapid advancement of technology since the start of the 2000’s.
Uber’s explosive growth has made it one of the most fascinating companies to emerge out of the 2010’s.
As tax moves into the digital world, hundreds of thousands of organisations across Europe will face substantial challenges when it comes to adhering to VAT.
As you can imagine, there is a lot of uncertainty regarding what happens if there is a ‘No deal’ Brexit at the end of October.
In recent weeks a small collection of countries including Australia, Belarus, Germany, Portugal and Singapore have announced transactions made using cryptocurrency will be exempt from VAT, regardless of transaction size.
The Transactional Network Analysis (TNA), a Belgian data mining software with intuitive algorithms which quickly assesses multiple international databases and reviews huge amounts of data pointing out suspicious VAT activity and likely cases of fraud.
In their annual report, Thomson Reuters has surveyed over 400 European tax teams gaining valuable insight into how corporate tax teams are managing the challenges of the new global digital tax world.
Generating considerable income and being relatively easy to administer, raising revenue through incremental increases in supply chain consumption tax is nothing new.