Around the World in 80 tax changes

Government regulations can be difficult to track and understand during the best of times. With the ongoing effects of the COVID-19 pandemic and the geopolitical upheaval of the last year, the world is changing more rapidly than ever before — and tax legislation is changing with it.

In an October 2021 report from IDC MarketScape, the authors commented: “Nearly every major economic region is undergoing some level of indirect tax reform and VAT/GST changes, which will add additional levels of frustration and complexity for businesses… [Indirect taxation] is one of the most complicated aspects of today’s business environment.” Isn’t that the truth!

New tax compliance obstacles and regulations are impacting businesses of all sizes in vastly different ways. From new developments like the digitisation of invoicing and tax reporting to government efforts to eliminate corporate tax advantages, businesses need to be more adaptive to keep up with compliance. Although it might feel like hard work to get it right, the reward will be worth it.

As new markets and opportunities open to businesses at a rapid rate, analysts predict that global ecommerce sales are on track to surpass €67 trillion by 2025 – up from €1.4 trillion in 2015. This is a staggering trajectory.

To help you and your business be part of this boom, your friendly tax experts here at Avalara have put together an overview of the changes and their associated impact, to support your business – whatever your size.

The report provides a comprehensive understanding on the impacts on industries including ecommerce, retail, software, manufacturing, and more including:

An overview of key domestic and international tax policy developments

Including an overview of the new Harmonised System codes which came into force January 1, 2022.

An understanding of how supply chain difficulties are impacting consumers and suppliers

The impacts of Brexit are still being felt. Labour shortages and high demand are pushing prices up. The fallout from Brexit continues. Where do we go from here?

Effects on the international market and changes to cross-border ecommerce compliance

Tax digitisation is continuing to gain momentum and the introduction of the One-Stop-Shop (OSS) and Import One-Stop-Shop (IOSS) calls for more stringent compliance requirements.

Legislative changes and emerging trends

Currently, many countries reduce taxes on foreign companies so they’ll set up shop on their shores - the new global minimum tax deal, if successful, will reduce competition among governments and demand global standardised tax thresholds for those who operate at scale.

Legislative changes and emerging trends

We don’t have a crystal ball, but we do have industry-leading experts, a global network, and an unmatched understanding of our (and your) markets. We’re here for you every step of the way.

The Global Tax Changes 2022 report covers all this and more. Now in its sixth consecutive year, this year’s guide provides you with the latest developments in the world of tax compliance. 

Download the Global Tax Changes 2022 guide for free. Still have a question? Get in touch today for our help.

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Ecommerce Tax Trends Report 2022

Get a comprehensive look at the latest developments in the ecommerce industry.

Ecommerce Tax Trends Report 2022

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