Digitizing VAT is the first phase of the UK’s Making Tax Digital program, designed to modernize the country's tax system. UK authorities have revised related deadlines, which call for certain businesses to keep digital records and submit VAT returns using compatible software.
The six countries that comprise the Gulf Cooperation Council will implement a value added tax in 2018. Businesses operating in the Gulf region need to be aware of how the new VAT will affect their operations.
India recently voted to replace its labyrinthine federal and state taxes with a single tax on goods and services.The implementation of the new GST regime will require businesses operating in India to overhaul their current indirect tax processes. Most companies have not yet prepared for the tax.