CBDCs or Central Bank Digital Currencies represent a form of digital currency issued by a country’s central bank. They differ from the use of cryptocurrencies as this new form of digital money is backed-up, issued and controlled by a particular state and not by decentralized entities. Their value is linked […]
The European Consumer Center in Ireland has determined that Twitter has violated the EU’s rules for fair business practices by not including VAT in its service subscription prices. During February and March, Twitter launched the paid Twitter Blue subscription service in Europe. The move is part of an effort to […]
Tax fraud directly and negatively affects business market conditions by creating unfair competition. Compared to competitors who do not pay taxes, companies that operate in accordance with the law have higher costs, and therefore, higher prices for products and services. Moreover, tax fraud, from the perception of the individual citizens, […]
There are a couple of main principles when digitalizing the process of tax revenue monitoring (be it fiscalization or e-Invoicing), such as the immutability of data, non-repudiation of taxpayer identity, and the (near) real-time reporting of transactions. Another equally important principle, that sometimes gets overlooked, is the ability to instantly […]
Electronic sales suppression, also known as “zapper” or “phantomware,” is a form of tax evasion that involves manipulating electronic records to underreport or delete sales transactions. This fraudulent practice has become more prevalent in recent years, prompting governments and tax authorities to crack down on businesses that engage in such […]
