Tag: VAT Risk Management

17 May 2025

Combating VAT Fraud Through Machine Learning and Predictive Artificial Intelligence

Using artificial intelligence (AI) to combat VAT fraud, the European Parliament urges the European Union to expedite its AI initiatives to protect the EU budget, particularly in the fight against VAT-related fraud. In a recent resolution, the…

23 April 2025

Tax penalties can emerge in several scenarios if VAT regulations are overlooked

Tax penalties can occur in various situations when there is a failure to comply with VAT regulations. Here are several scenarios that may result in the imposition of tax penalties due to non-compliance with VAT rules: 1. Late Submission of VAT…

21 April 2025

Tax Risk Management: An Overview

Tax risk management is a crucial process through which organizations identify, assess, and mitigate the risks associated with tax compliance and reporting. This involves developing strategies to minimize exposure to financial penalties, legal…

30 November 2014

VAT determination of incoming invoices

Tax determination for VAT on incoming invoices is a critical process for businesses to ensure compliance with VAT regulations, accurately account for tax liabilities, and optimize input VAT recovery. This process involves determining how much VAT a…

13 March 2014

Quantification of tax risks via statistical sampling

Sampling involves selecting a portion of the total population of available data, particularly when evaluating the entire population would be too costly or time-consuming. To ensure effective sampling, it is crucial that the selected sample is…

27 November 2013

Why VAT is important

VAT (Value Added Tax) risks can significantly affect businesses operating within complex tax environments. Understanding these risks is crucial for ensuring compliance and optimizing tax management strategies. Here are some common examples of VAT…

04 November 2013

VAT control framework

There are a couple of elements that need to be considered to determine the materiality of VAT risks. Using absolute amounts is the way a business controls framework sets up a risk-based approach. However, this is not sufficient as a VAT…

04 November 2013

SAP VAT review

An SAP review for VAT systematically evaluates how an organization manages its Value Added Tax (VAT) processes within its SAP environment. Given the complexities of VAT regulations and compliance requirements across different jurisdictions,…

04 November 2013

Incorrect VAT numbers

It is possible to check the syntax – the format of the VAT number, including the number of positions. However, it is not possible to check whether the VAT number is valid. To this end, the European Commission has provided an online database, VAT…

04 November 2013

VAT GST risks

Unexpected costs are high and ‘above the line’ Measuring risks is often based on the balance between output and input VAT, not the total VAT/GST throughput (also called ‘VAT under management’). The findings listed above are not surprising, as…

04 November 2013

VAT Under Management: An Overview

VAT Under Management refers to the strategic oversight, control, and optimization of an organization's Value Added Tax (VAT) processes. This concept includes all activities related to VAT compliance, reporting, recovery, and the overall management…

04 November 2013

VAT GST rewards

Optimizing VAT recovery, working capital efficiency: cost and cash flow benefits Overall, business strategies nowadays focus on: Release cash Reduce costs by reducing complexity, lowering cycle time, minimizing defects and errors, etc. …

01 November 2013

Migration to new jurisdictions

Transactions in Today’s Business Landscape As the world grows increasingly interconnected, businesses face more complex growth strategies. The operational structure of a typical multinational corporation today resembles a Rube Goldberg machine, a…

01 November 2013

Change of a company's business model

The Importance of a Relevant VAT/GST Strategy A well-implemented indirect tax strategy is essential for the effective functioning of a new business from the go-live stage, both from tax and commercial perspectives. This ensures smooth inventory…

01 November 2013

The intersection of VAT and shared service centers

Lack of the right resources due to changeTake for example a Shared Service Center. In the past local country teams were handling VAT matters and its department who had been there for a long period of time, had access to talented staff, and were well…

01 November 2013

M&A integration and indirect tax: managing the moving parts before, during, and after a transaction

A relevant indirect tax strategy—correctly implemented—will allow the new business to function effectively from go-live, from both a tax and commercial perspective, so that it can move inventory, generate sales and invoices, face fewer disputes with…

Tag: VAT Risk Management

Global - Elevate your VAT/GST control framework

Standard Audit Files for Tax and the Trend of Digital Tax Auditing

E-invoicing and VAT a global trend

Key Trends in VAT Landscape

Progress and Future Challenges in the Fight Against VAT Fraud

Combating VAT Fraud Through Machine Learning and Predictive Artificial Intelligence

Tax penalties can emerge in several scenarios if VAT regulations are overlooked

Tax Risk Management: An Overview

VAT determination of incoming invoices

Quantification of tax risks via statistical sampling

Why VAT is important

VAT control framework

SAP VAT review

Incorrect VAT numbers

VAT GST risks

VAT Under Management: An Overview

VAT GST rewards

Migration to new jurisdictions

Change of a company's business model

The intersection of VAT and shared service centers

M&A integration and indirect tax: managing the moving parts before, during, and after a transaction