Tag: VAT compliance
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State Audit: Latvia’s Shadow Economy Plans—Are They Working?
Introduction: Latvia’s ongoing fight against the shadow economy The shadow economy, or informal economic activity not reflected in official statistics or taxed according to regulations, has long posed a challenge for Latvia. Since 2010, the country has sharpened its focus on reducing unreported work, evasion, and the broader tax gap. The central question confronting policymakers…
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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…