Tag: Data Standards
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Digital Continuous Transactional Reporting for VAT: OECD Policy and Design Considerations
Overview: Why Digital Continuous Transactional Reporting (DCTR) for VAT matters Digital Continuous Transactional Reporting for Value-Added Tax (VAT) is an approach where tax authorities receive near real-time information on business transactions. The OECD report, prepared with input from national authorities such as the Ministry of Finance (MoF) and the Central Board of Indirect Taxes and…
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OECD Digital Continuous Transactional Reporting for VAT: Policy and Design
Overview: What Digital Continuous Transactional Reporting for VAT Entails The OECD report on Digital Continuous Transactional Reporting for Value-Added Tax (VAT) presents a framework for real-time or near‑real‑time VAT data collection. The goal is to improve accuracy, reduce compliance costs for businesses, and close revenue gaps for governments. By moving from periodic VAT returns to…