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Tax tech companies are rapidly gaining ground as global tax advisory firms, and are set to fundamentally change and revolutionize the way tax administrations, taxpayers, and their advisers interact, ushering in a much more efficient and effective integration of tax services into the processes used by both taxpayers and tax authorities. The distinguished contributors to this book clearly explain not only how tax law can be revised to promote digitization and speed up its implementation but also how to achieve better tax compliance and administration at a lower cost. The authors cover such aspects of this veritable paradigm shift in tax management as the following: how new technologies improve existing VAT/GST systems; uses of artificial intelligence; secured certification of taxpayers; electronic invoices; securing real-time reporting with cryptography; taxing virtual currencies; enhanced personal data protection; fewer opportunities to engage in aggressive tax practices; competitive advantage in attracting investment; work-flow assessment; and more opportunities for information flows and collaboration. Because the perspective as to what is meant by tax compliance is already overlaid by technological pressure—as indicated especially by BEPS 1.0’s domestic tax law initiatives and its recommendations of newly developed options to secure full transparency of tax processes—it is clear that controls and tax risk management are on the rise and that systems will become more digitized. For these reasons, professionals in the tax advisory industry and tax authority officials will welcome this book’s sound and practical measures leading to progress and revitalization through digital transformation.
New technologies are changing the way that tax administrations, taxpayers and their advisers interact, leading to a reduction in the compliance cost for taxpayers, a level playing field for large and small businesses, and fewer opportunities to engage in aggressive tax practices. Although entering a new world where processes are supported by machines inevitably disrupts traditional ways of working, the contributors to this indispensable book reveal the enormous potential of ‘tax technology’ to positively transform tax compliance, clearly showing both government and business how to manage the transition from the old to the new. With detailed treatment of the technology available in the tax field, the authors describe how to secure its benefits in such ways as the following: electronic balance sheets and invoices; automated transmission to tax authorities; innovative analytics applications; blockchain in tax law processes; process mining in VAT; real-time reporting with cryptography; and meeting the challenges to taxpayers’ rights to privacy and personal data protection. The contributions draw on an international conference held under the auspices of the Digital Economy Taxation Network at the Vienna University of Economics and Business in December 2020. The perspective throughout focuses on how to achieve better tax compliance at a lower cost. For this reason, this full-scale, practical guide on how to adapt tax law to new technologies and how to apply tax tech processes in practice will be welcomed by tax practitioners, tax administrations, and academics across the entire tax community.
Nothing is more exhilarating and more frightening than starting your own business. You face so many decisions to be made, strategies to consider and tactics to implement, not the least of which is how your business is to be structured and organized. Are You Ready to Incorporate? is an indispensable resource that will help you make your most important business decisions. Book jacket.
Contains extensive coverage of the tax issues faced by all types of contractors, including large and small contractors, homebuilders, and other specialty trades, provides you with the clear, concise guidance you need to expertly address your tax issues.
Applying the provisions of the European Union Value Added Tax (EU VAT) Directive poses challenges when applied to the digital platform economy. Recent responses to these challenges revolve around the deemed supplier regime introduced by the so-called e-commerce package, and this regime is thus the focus of this indispensable work, the first to provide an in-depth analysis of the regime, its background and scope, its interpretation, and its application in practice. In its detailed examination of how digital platforms that enable supplies of goods through their interfaces are treated for VAT purposes under EU law, the author elucidates such topics and issues as the following: The qualification of the sale of goods through platforms; supply of the platform service to the underlying supplier; supply of the platform service to the customer; supply of goods from the underlying supplier to the customer; supplies from third countries; the Organisation for Economic Co-operation and Development (OECD) proposal’s influence on the interpretation of the EU e-commerce package; chain transactions; determination of the place of supply; chargeable event and chargeability of VAT; taxable amount; applicable rates and exemptions; platform’s recordkeeping obligations; accompanying customs measures; return of goods and warranty cases; and future of effective and efficient VAT collection. The author also undertakes a detailed analysis of a potential infringement of the principle of equality, neutrality, and the right to conduct a business. Fully taking into consideration the case law of the CJEU, administrative practice, and the relevant academic literature, the author’s research reveals the weaknesses, opportunities, and limits for Member States’ implementation of EU VAT law. The upshot is an important work that promises to make the EU VAT system more fraud-resistant, simplify compliance obligations, enforce the principle of neutrality, and reduce distortion of competition. The book will be of immeasurable value to any practitioner and policymaker approaching any case involving the deemed supplier regime for digital platforms with full awareness of the applicable rules.
Improve the quality, efficiency, and profitability of the services you offer your clients. In today's marketplace, leveraging technology and cloud-based solutions to automate data processing and other low-value work is essential to running an efficient and profitable CPA practice. Given the pace of change, it’s also too easy to feel overwhelmed by the abundance of choices and make bad decisions that cost you time and money. 10 Steps to a Digital Practice in the Cloud will help you clear a path for your firm’s success. This popular how-to guide is your roadmap to building your successful practice in the cloud in just 10 steps. You’ll get practical, comprehensive information with step-by-step instructions, covering areas such as: Infrastructure Scanning Solutions Document Management Client Portals Workflow Management Cloud-based Client Accounting Systems Security Disaster Recovery And more! Authors John Higgins and Bryan Smith guide you through each step, helping you implement best practices in each area, select the right solutions for your firm, and better serve your clients. They also include several real-world CPA firm case studies to illustrate how other firms have saved time and money while making their firms run more efficiently by moving to a digital practice model. This second edition is updated to reflect the current state of the market and the technology solutions available for cloud-based server infrastructure, personal computers and software, mobile computing, scanning, client portals, document management, workflow, cloud accounting and more. Use it to develop your technology plan and make a valuable investment in your firm’s future.
CCH's new Tax Function Effectiveness addresses the unique challenges of tax function departments. The tax function's objectives should themselves be driven by what is happening in the business and the wider business and regulatory environment.
Information Technology for Management provides students with a comprehensive understanding of the latest technological developments in IT and the critical drivers of business performance, growth, and sustainability. Integrating feedback from IT managers and practitioners from top-level organizations worldwide, the International Adaptation of this well-regarded textbook features thoroughly revised content throughout to present students with a realistic, up-to-date view of IT management in the current business environment. This text covers the latest developments in the real world of IT management with the addition of new case studies that are contemporary and more relevant to the global scenario. It offers a flexible, student-friendly presentation of the material through a pedagogy that is designed to help students easily comprehend and retain information. There is new and expanded coverage of Artificial Intelligence, Robotics, Quantum Computing, Blockchain Technology, IP Intelligence, Big Data Analytics, IT Service Management, DevOps, etc. It helps readers learn how IT is leveraged to reshape enterprises, engage and retain customers, optimize systems and processes, manage business relationships and projects, and more.
The electronic invoicing (EI) of taxes is one of Latin America’s contributions to international taxation in support of the fight against evasion, global efforts towards tax transparency, and the digitization of tax administrations (TAs). Initially, EI was conceived as an instrument of documentary control over the invoicing process, so as to avert both the omission of sales and the inclusion of false purchases. The original idea was extended to other areas of tax control, such as payroll, goods in transit, and new services such as factoring. To some extent, EI can be regarded as the start of the process of digitizing the TAs in the broad sense. This publication addresses the pioneering experience of EI in Latin America, from its implementation to its extensions and impact on tax collection.