The indirect tax landscape is undergoing a profound transformation, driven by the relentless pursuit of efficiency, accuracy, and strategic advantage. A recent Thomson Reuters webinar underscored the critical role of technology and automation in reshaping the indirect tax department. This blog looks at the key challenges faced by tax professionals and explores the emerging technological […] … Read More
Businesses must innovate and adapt to the changing indirect tax landscape to stay competitive. Corporate tax departments are using technology increasingly as a strategic partner to address these issues. Insight on how indirect tax departments intend to use technology to transform their operations can be found in a recent study conducted by the Thomson Reuters Institute. Accepting […] … Read More
At its most basic level, a VAT —or value-added tax — is a type of consumption tax charged on items that people buy. Known also as an indirect tax because businesses collect it for the UK government. Businesses must register for VAT if their VAT-taxable turnover is more than £85,000. They can also choose to […] … Read More
The digital transformation of tax, accounting, and financial management is no longer optional. This transformation is most visible in the adoption of electronic invoicing (e-invoicing), a critical shift reshaping the financial landscape of businesses worldwide. The rise of e-invoicing According to a recent study run in partnership with Accountancy Age, 134 organisations were surveyed, 83.8% of […] … Read More
People who purchase software rarely get to talk to the product’s developers about the development process or the features and updates users can expect in future iterations of the product. But that’s precisely what happens at the Thomson Reuters annual Synergy conference, where product developers, software engineers, and other representatives from the company gather with users […] … Read More
The HMRC’s Making Tax Digital (MTD) mandate was designed to simplify and expedite tax reporting, with advantages, according to their gov.uk website that include: Making it easier for individuals and businesses to get their taxes right Allowing businesses to integrate tax management with a range of business processes through software Contributing to wider productivity […] … Read More