June 1, 2021
Tradeshift Editorial Team

Tax authorities around the world are increasingly introducing new, stricter requirements as to how businesses must collect, format and report VAT information. Businesses must learn to comply with these more complex reporting regimes in order to remain VAT compliant.

We recognize that tax compliance is a crucial component that businesses look for when choosing an enterprise software vendor so we have partnered with tax technology firm Sovos to ensure that VAT compliance is managed alongside your transactions and does not become a burden.

Tradeshift is pleased to present Sovos’ 12th edition of their annual trends report, “VAT Trends: Toward Continuous Transaction Controls”. This comprehensive report is an essential read for anyone managing VAT.

The focus of this year’s report is on four emerging megatrends with the potential to drive change in the way organizations approach regulatory reporting and manage compliance:

  1. Continuous Transaction Controls (CTCs) 
  2. A shift toward destination taxability for certain cross-border transactions
  3. Aggregator liability 
  4. E-accounting and e-assessment

About the Author

Tradeshift connects buyers, suppliers, and all their processes in one global network. We help you transform the way you work with suppliers today – and adapt to whatever the future brings.

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