Harnessing AI and Machine Learning to Maximise VAT Compliance and Reclaim with Minimal Effort

VAT is an increasingly important source of revenue for governments. Over 160 countries have a form of VAT in place and as VAT grows as a source of revenue for governments, so does the complexity of the legislation surrounding it.

And as the legislation becomes more complex, so does the burden for business in ensuring compliance.

It also means it’s increasingly easy to make mistakes, however unintentionally. This is a very real risk. A study found that 48% of travel and expense (T&E) invoices analysed for VAT recovery were submitted incorrectly.