Getting VAT right the first time, amid procurement and regulatory disruptions
VAT compliance challenges have hampered procurement and accounts payable (AP) processes for decades. Today, the challenges caused by those impediments are rapidly increasing as global tax authorities embrace digital tax reporting requirements and overhaul existing rules to enable the real-time sharing of compliance data.
As procurement teams and finance functions increase their strategic contributions through digital transformation, they have a unique opportunity to integrate advanced tax technology into their platforms. This integration can limit compliance risks while helping procurement and accounts payable groups make their activities as efficient as possible.
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