Here are 10 potential challenges associated with the prefilled return system
1. Accuracy of prepopulated data There is a risk that the prepopulated data provided by the tax authority may contain errors or omissions, which could lead to inaccuracies in the VAT return. 2. Completeness of prepopulated data The prepopulated data may not include all the information required to complete the VAT return, which could require […]
10 key watchouts that companies affected by the Australian e-Invoicing mandate should be aware of
1. Compliance Businesses need to ensure that they are fully compliant with the new e-Invoicing requirements by the July 1, 2023 deadline. 2. Technology Businesses will need to ensure that their invoicing systems are compatible with the Peppol network and able to generate and receive invoices in the required electronic format. 3. Supplier readiness Businesses […]
10 benefits for the tax function to go digital
1- Cost saving One of the most significant benefits of going digital in the tax function is cost savings. For example, when implementing e-invoicing, the cost of printing, mailing, and storing paper invoices can be eliminated. In addition, automation of tasks such as data entry, data analysis, and report generation can reduce the need for […]
