IOTA’s input to Vertex Exchange Europe 2018 Conference

Ágnes Kővágó's picture
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Miguel Silva Pinto, IOTA’s Executive Secretary was a keynote speaker in the VERTEX Exchange 2018 Conference, which took place in Amsterdam on 18-19 April 2018. This annual event puts together information and technology experts with corporate users to present new trends and IT solutions for tax management.

VERTEX is one of the global leaders in technological solutions for tax and is a regular participant in IOTA’s open international events and publications. IOTA’s Executive Secretary was invited to provide an insider’s view on the ongoing process of digitalisation in tax administrations in IOTA’s membership and beyond.

The Executive Secretary referred to the impact of the digital revolution on the way tax administrations interact with taxpayers and the move from e-filing to automation of compliance and consequently, digital assessment, collection and payments.

He highlighted some examples in IOTA member countries, illustrating a clear trend in the direction of the establishment of real-time tax administrations whereby, through the use of tools such as on-line cash registers, electronic invoicing and SAF-T, tax authorities follow the economic activity in real-time and are able to verify quickly the corresponding level of compliance of the traders involved. The advantages are clear: more accuracy in relation to the assessment of the taxes due to governments and ensuring the integrity and authenticity of invoices, accounting and bookkeeping.

Mr Pinto also pointed out that the future of tax needs to involve all stakeholders if catching up with progress is to be attained. Therefore, exchanges of views, experiences and know-how like this event and the open initiatives offered by IOTA are welcomed and should be encouraged. Mr David DeStefano, President and Chief Executive Officer of Vertex, expressed thanks for IOTA’s participation in the conference and added that this is a good example of mutual beneficial cooperation between different stakeholders when leading tax forward.