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The IMF has urged countries against cuts to VAT in response to rising inflation and the cost-of-living crisis hitting households around the world.
Tax directors say a failure to properly implement the EU VAT e-commerce package is hitting companies twice as its first anniversary approaches.
Tax directors warn that a lack of standardisation of in-house VAT reporting processes could leave businesses open to costly errors and misaligned procedures.
Tax directors have told ITR there’s a need to overhaul and harmonise EU VAT grouping legislation to boost business certainty and avoid higher costs.
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