Dek: The decision to scrap a VAT exemption for travelers to the U.K. will be felt most by the country’s luxury retailers, which are largely dependent on Chinese and other international customers now subject to a 20% tax on purchases. Of all the policy miscalculations...
Mexico passed a law this week that taxes digital services from other countries, according to a report. A 16 percent value-added tax (VAT) will be tacked onto digital services starting on June 1 of this year. The law will apply to all services, even B2B...
The U.K. is losing as much $1.28 billion each year in value-added tax (VAT) due to fraud or errors from sellers who use the marketplaces of eBay and Amazon, reported Reuters. The report, citing the National Audit Office (NAO), reported that the NAO said sellers...
October 24, 2024
VAT4U has added generative artificial intelligence (AI)-powered capabilities to simplify value-added tax (VAT) processes. The upgraded VAT4U SmartAI engine focuses on helping businesses manage VAT for accounts payable (AP) and travel and expenses (T&E), the company said in a Thursday (Oct. 24) press release. “With VAT4U SmartAI, businesses can now harness AI-driven technology to manage […]
April 20, 2017
The U.K. is losing as much $1.28 billion each year in value-added tax (VAT) due to fraud or errors from sellers who use the marketplaces of eBay and Amazon, reported...
