Bloomberg Tax
Jan. 28, 2020, 7:01 AM

Global Value-Added Tax Crackdown Costing Companies Millions

Siri Bulusu
Siri Bulusu
Hamza Ali
Hamza Ali
Senior Reporter International Tax

Tax authorities are pushing for real-time access to companies’ sales data using new technology to track value-added tax payments, leaving some businesses scrambling to meet their demands.

Nearly 80 countries already have requirements for companies to use some form of e-invoicing for reporting taxes on business transactions involving sales of goods and services. Several more, such as India, Hungary, and Italy will expand similar requirements in 2020 and beyond.

E-invoicing rules affect all sectors of industry, but retailers will face the most challenges due to the sheer volume of transactions they undergo each day. The rules require companies to send ...

Learn more about Bloomberg Tax or Log In to keep reading:

Learn About Bloomberg Tax

From research to software to news, find what you need to stay ahead.

Already a subscriber?

Log in to keep reading or access research tools.