Richard Asquith is vice president of global indirect tax at Avalara. His focus is helping companies going global understand and manage their VAT compliance obligations.
One strategy being used across international regions is to utilize value-added tax measures as a flexible and effective response to the economic slowdown.
The European Union published proposals Wednesday for a 3 percent Digital Turnover Tax on the European B2B revenues of digital giants such as Google, Apple, Facebook, Amazon (termed GAFA in Europe), Uber and Airbnb.
The U.K.'s exit from the European Union will bring major tax uncertainties for U.S. businesses trading in the U.K., or using it as a platform to trade into the rest of the EU.