17th June one-day seminar: ‘Real-Time VAT’

Hosted at Business Europe Brussels by Business Europe VAT Group

A lively and in-depth one day analytical discussion of the RTvat solution by corporate tax experts. Topics ranged from current business VAT registration problems, insider dealing, real-time currency exchange and general fraud to exemptions (such as vouchers and gold bullion), import and export, the black economy, and intra-company cross-border trade. RTvat brought two technology experts from the USA to the meeting to discuss the issues of technical interfacing with corporate accounting procedures.

The attendees were keen to explore every avenue of the RTvat solution, providing insight and information on the corporate-specific concerns and range of VAT scenarios. RTvat was very pleased at the level of enthusiasm behind this analysis, and delighted to see the RTvat solution being developed with stakeholders to provide the best solution for all parties involved. Business representatives also expressed their opinions over the likely response to the solution from governments and tax authorities, which RTvat will be following up for confirmation.

The outcome of the meeting was the conclusion that the RTvat solution would have a positive impact on missing trader fraud, on identification issues and on input VAT fraud, all of which were clearly major concerns for the attendees.