Avalara solutions for VAT
Technology to help businesses respond to rapidly changing reporting requirements
A shift toward live invoice submissions
Tax authorities are checking and calculating VAT liabilities in real time. They are also rapidly imposing digital transaction reporting requirements in order to close stubborn VAT revenue gaps running to €150 billion per annum.
Business on the back foot
Self-assessment gave businesses a chance to review and correct liabilities. But as tax authorities start to check transactions in real-time businesses of all sizes must upgrade their accounting systems and tighten their VAT determination processes.