Accountancy intelligence to lead, innovate & grow.

Want to get your daily slice of Accountancy knowledge to your inbox? Sign up now

Accountancy Slice helps you stay ahead of essential accountancy news shaping your profession. Every weekday, our unique blend of AI, accountancy experts and researchers monitor 100,000s of articles and share a summary of the most relevant and useful content to help you lead, innovate and grow.

From Audit to Tax, Practice Management, Tech, Reporting and accounting firm news. Accountancy Slice is the only trusted online news source in the US dedicated to covering current headlines, articles, reports and interviews to make sure you’re at the forefront of changes in the accountancy industry.

AS banner
Recent Editions
 
as-recent-na
Accountancy Slice
North America
VAT reporting burden on companies

VAT professionals are struggling with the burden of validating transactions and catching fraud, which they say should be the responsibility of governments, reports Euan Healy in International Tax Review. He says the transition to the digital age of VAT reporting and e-invoicing has altered the relationship between tax authorities and businesses. Governments are requesting more data points and information from companies, which are struggling to adapt to quickly changing expectations. Healy adds that tax professionals are increasingly finding that they now carry the burden of finding and validating potentially fraudulent transactions. The rapid rate of change has created an “overburdensome reporting requirement”, said Lisa Dowling, senior global director and head of indirect tax, advisory and compliance at TaxBack International in Ireland. Adam Schaffner, director of indirect tax at Thomson Reuters in Dallas, echoed her concern: “We’re basically becoming employees of the government; we’re becoming free auditors.”

Full Issue
 
top-shadow
Read the latest Accountancy highlights