The Thomson Reuters report addresses the compliance challenges that global organisations are facing including the adoption of e-invoicing and the technological capabilities they will likely require in the future. It aims to help executives and tax leaders make informed decisions to tackle IDT challenges in the emerging world of real-time digital tax reporting.
Date published
July 25, 2023
Company
Thomson Reuters
Governments worldwide are actively digitalising their tax systems, enforcing real-time data reporting, and imposing distinct e-invoicing requirements.
As a result, companies need to upgrade their invoicing processes, establish connections to government networks, ensure invoice compatibility with specific requirements, and integrate with existing financial systems, all while staying abreast of constantly evolving regulations.
The absence of a standardised global format for e-invoices further compounds the challenge, compelling companies to devise individual solutions for each country where they operate. This leads to significant complexity and cost as they navigate through diverse regulatory landscapes and adapt their invoicing procedures accordingly.
The Thomson Reuters report addresses the compliance challenges that global organisations are facing including the adoption of e-invoicing and the technological capabilities they will likely require in the future. It aims to help executives and tax leaders make informed decisions to tackle IDT challenges in the emerging world of real-time digital tax reporting.
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