Tax & Accounting Blog

The Advantages of Automating VAT Determination and Compliance

The Advantages of Automating VAT Determination and Compliance

Many users of the world’s most sophisticated and widely embraced enterprise resource planning (ERP) systems still use desktop spreadsheets to manage their value-added tax (VAT) and statistical filing processes. It’s labor-intensive work that may not catch every error and leaves the VAT processes without rigorous controls. It also puts companies at increased risk at a … Read More

Finland — VAT Increase Announced

Finland — VAT Increase Announced

Following budget deliberations this week Finnish Government Ministers have announced an increase in value added tax (VAT) across the board by one percentage point. Prime Minister Jyrki Katainen has indicated raises in tax rates will take precedence over saving cuts in the government’s budget plans. The planned increase, which will affect necessities such as food and … Read More

U.K. Announces Changes to VAT Registration Thresholds

U.K. Announces Changes to VAT Registration Thresholds

In Budget 2012, presented to Parliament by United Kingdom Chancellor, George Osborne on March 21st, several changes to VAT registration thresholds were announced that will be effective from 1 April 2012. Those changes are as follows: the registration threshold will be increased from GBP 73,000 to GBP 77,000; the deregistration threshold will be increased from GBP … Read More