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Global Indirect Tax: 2023 Year in Review and 2024 Outlook
January 25 @ 2:00 pm – 3:00 pm EST
KPMG LLP invites you to join professionals from our U.S. Indirect Tax practice for a discussion summarizing the major developments in 2023 regarding value added taxes (VAT) and goods and services taxes (GST) as well as an outlook of what to expect in 2024.
The year 2023 saw a continuation of jurisdictions adjusting their VAT/GST regulations to accommodate the evolving digital economy and the digitization of indirect tax compliance.
In the context of the digital economy, jurisdictions not only continued to implement remote seller rules, but 2023 was also characterized by the expansion of the scope of VAT obligations for non-residents and the initiating of enforcement actions against taxpayers who were non-compliant.
Regarding the digitization of indirect tax compliance, 2023 saw several major jurisdictions progressing towards the mandatory implementation of e-invoicing, which is expected to further automate the process of indirect tax compliance.
The outlook for 2024 suggests these trends will persist, with the noteworthy addition of significant tax reform in Brazil. This reform, over the coming years, will replace the country’s intricate multistage indirect tax structure with a more streamlined dual VAT system.
We hope you can join us for a lively discussion on these topics.
