Tax administrations need to adapt to a changed business environment

Since the first tax treaty to avoid double taxation was signed, international tax cooperation has become totally outdated to deal with modern times. This has brought about a rapid change in the way tax administrations collect taxes.

The second conference tackles the digitalisation of tax administrations. The use of information and technology in revenue collection is not a nice-to-have; it has become a necessity. “Investments in digitalisation should not be disrupted as the cost of recovery is simply too high,” he said during the NTO conference’s opening session. It does appear that the penny has dropped for some countries.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Let SARS pay for your next investment – 12B Tax Deductible InvestmentsSouth Africa has been grappling with an energy crisis, resulting in frequent power outages and disruptions – we know this all too well as load shedding.
Source: BusinessTechSA - 🏆 24. / 61 Read more »