Risk-based vs. rule-based approach A risk-based decision-making approach is proactive and does not rely on a checkbox. A rule-based approach, on the other hand, is based on using a set of predefined rules to determine the best course of action. A rule-based approach is not adaptable to changing circumstances, whereas a […]
Taxes are one of the prime sources of revenue for most economies. Tax compliance is important for the smooth functioning of the overall economy of a country. Governments need to collect taxes timely and completely in order to provide essential services to the citizens. However, the collection of taxes is not […]
What is a VAT Health Check? A “VAT health check” is an audit of a company’s VAT compliance and reporting procedures and processes. The VAT health check (VHC) aims to find areas where the business could do better and ensure it follows all the right VAT rules, regulations, and procedures. It […]