Tom Witham, Author at Innovate Tax

Tackling the EU VAT gap: How authorities are uncovering more fraudulent transactions than ever before

The fight against VAT fraud continues apace, with new statistics from Eurofisc revealing it uncovered a record €12.7 billion of fraudulent or suspicious transactions across the EU in 2023. Eurofisc, founded in 2010 specifically to combat cross-border VAT fraud and comprised of all EU member

A guide to VAT in the UK

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Latest global tax headlines: May updates and announcements

Whether you’re interested in indirect tax or e-invoicing, take a look at our round-up of the latest headlines from around the world this month. Germany The VAT rate on gas and electricity has been returned to 19%, following a period of global energy price pressures

Innovate Tax unveils revolutionary tax data management suite TaxMaster™

BOGNOR REGIS, UK – 16 APRIL 2024 Innovate Tax today announces the launch of its new, unique offering for enterprise IT and tax teams, TaxMaster™; a master data cleansing service designed to drive global compliance in the era of tax digitalisation. TaxMaster™ incorporates a three-stage

Latest global tax headlines: Rate changes past, present and future

In the month that VAT celebrates its 70th birthday, we’ve rounded up 12 of the latest rate change announcements from around the world. Croatia Croatia’s reduced VAT rate for heating will remain in place until 31st March 2025. The 5% rate (down from the usual

5 signs it’s time for your business to seek a tax solution review

We often hear from tax professionals around the world who continue to proceed with major investments in their failing tax solution, despite being only too aware of its limitations. However, no matter how much you spend there is no guarantee that things will improve. In

Germany to mandate B2B e-invoicing from 2025

Germany will introduce mandatory domestic B2B e-invoicing from 2025, marking the latest milestone in the country’s journey towards full tax digitalisation. The Growth Opportunities Act, comprised of a range of measures (including e-invoicing) designed to drive economic growth, was passed by the Bundesrat last week

Tax master data: What is it and why does it matter?

The management of tax master data has never been as important as it is right now. In the era of digitalisation, tax data is widely recognised as an essential component of any tax setup; helping to power efficient and reliable determination, reporting and compliance. But

O5Live organisers announce new 5Live Events partner alliance for Oracle users

Organisers of O5Live, the UK’s leading event for Oracle business users have announced the creation of a new company, 5Live Events. 5Live Events will host a calendar of in-person and digital events, including its flagship O5Live conference in London in June, and launch a unique

10 countries set to mandate B2B e-invoicing: Are you ready to comply?

As tax authorities strive to reduce their national VAT gaps, the mandating of e-invoicing continues across the world at a rapid pace. Chile became the first country to introduce e-invoicing in 2001 and Italy brought the system to Europe in 2014. Today, more than 100

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Author: Tom Witham