Tax News Daily
The latest tax news from around the world, summarised and tagged for tax professionals. Updated twice daily.
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AI and compliance: “The productivity case is clear”
The article explores how artificial intelligence is transforming compliance and accounting workflows, making the case that productivity gains are significant and measurable. It examines how AI tools are being adopted by accounting and compliance professionals to automate routine tasks, improve accuracy, and handle growing regulatory complexity. The discussion includes practical applications in tax and financial compliance, where AI-driven automation is reducing manual effort and enabling teams to focus on higher-value analysis. The productivity argument is positioned as the primary driver for AI adoption across compliance functions, including tax compliance operations.
FBR to receive data on bank transactions above Rs100m under new law
Pakistan's Federal Board of Revenue (FBR) is set to gain access to data on bank transactions exceeding Rs100 million under newly enacted legislation. This measure is designed to enhance tax compliance and broaden the tax base by enabling authorities to cross-check declared income against large financial movements. The initiative reflects the FBR's ongoing efforts to curb tax evasion and improve documentation of the economy. Automatic data sharing from financial institutions to the tax authority represents a significant enforcement tool in Pakistan's tax administration framework.
Expanded CCH Axcess Expert AI to Deliver AI-Powered Scan and K-1 Automation
Wolters Kluwer has expanded its CCH Axcess Expert AI platform to include AI-powered document scanning and K-1 automation capabilities. The enhancements leverage artificial intelligence to streamline tax return preparation workflows, automating the extraction and processing of K-1 partnership and trust income data. This reduces manual data entry burden for tax professionals, improving accuracy and efficiency in personal and partnership tax compliance. The expansion reflects growing adoption of AI-driven automation tools within tax software platforms, targeting CPA firms seeking to manage increasing workloads with greater speed and fewer errors during tax season.
FBR restricts green channel for importers without digital integration
Pakistan's Federal Board of Revenue (FBR) has restricted green channel access for importers who have not integrated with its digital systems. The green channel allows low-risk importers to clear goods without physical examination, and the new requirement ties this privilege to digital compliance. The move is part of FBR's broader push to modernise customs administration, improve data-driven risk management, and reduce opportunities for duty evasion by ensuring all importers are connected to FBR's digital infrastructure.
OECD: AI Slashes VAT Non-Compliance Detection Time to Three Months
The OECD reports that artificial intelligence tools are dramatically reducing the time required to detect VAT non-compliance, cutting detection cycles from years down to approximately three months. The findings highlight how AI-driven data analytics and machine learning models enable tax authorities to identify suspicious patterns, fraudulent transactions, and compliance gaps far more rapidly than conventional audit methods. The OECD's analysis underscores the transformative impact of tax technology on enforcement capacity globally, encouraging member countries to invest in AI-powered compliance infrastructure to close VAT gaps and improve revenue collection efficiency.
Argentina Launches Digital VAT Refund System for International Visitors
Argentina has launched a digital VAT refund system targeting international visitors, allowing tourists to reclaim VAT paid on eligible purchases during their stay. The system modernises the existing tax refund mechanism by moving it to a digital platform, streamlining the claims process and improving efficiency for both visitors and tax authorities. This initiative aims to boost tourism competitiveness by making Argentina a more attractive destination while ensuring compliance with VAT refund procedures. The digital approach is expected to reduce processing times and administrative burdens compared to traditional paper-based refund methods.
United Kingdom Confirms Peppol as Core Interoperability Network for e-Invoicing
The United Kingdom has confirmed Peppol as the core interoperability network for its e-invoicing framework. This decision aligns the UK with international standards already adopted across Europe and beyond, enabling standardised electronic invoice exchange between businesses and government entities. The move signals a significant step in the UK's digital tax infrastructure development, facilitating smoother B2B and B2G transactions. Adopting Peppol supports HMRC's broader ambitions around Making Tax Digital and reducing administrative burdens through automated, structured invoice data. Businesses operating in the UK will need to align their invoicing systems with Peppol-compliant formats as the framework develops.
MTD is the accelerant of a shift that was already underway
Making Tax Digital (MTD) is driving a broader transformation in UK accounting and tax compliance that was already in motion. The initiative is accelerating the shift toward digital record-keeping, real-time reporting, and cloud-based accounting systems. MTD is compelling businesses and accountants to adopt technology-driven workflows, moving away from manual processes. This digital mandate is reshaping the advisor-client relationship, pushing firms to offer more strategic, data-driven services rather than traditional compliance work. MTD acts as a catalyst, speeding up modernisation of tax administration and practice management that market forces were already encouraging across the accounting profession.
OECD: AI cuts VAT non-compliance detection time, official says
An OECD official has highlighted how artificial intelligence is significantly reducing the time required to detect VAT non-compliance, according to a recent report. AI-powered tools are enabling tax authorities to analyse large volumes of transactional data more efficiently, identifying anomalies and compliance gaps that would previously take considerably longer to uncover. The OECD's commentary underscores a growing trend among tax administrations globally to adopt advanced analytics and machine learning to improve VAT enforcement, close tax gaps, and enhance audit targeting. This development has implications for businesses as tax authority detection capabilities become increasingly sophisticated and data-driven.
2026 CA Day: Upto 50% Off on Tax, Payroll, and ROC Software
SAG Infotech is offering discounts of up to 50% on its tax, payroll, and ROC software products in celebration of CA Day 2026. The promotional offer targets chartered accountants and tax professionals seeking compliance and filing tools. Products covered include tax return preparation, payroll processing, and company secretarial software. This is a commercial software promotion tied to the accounting profession's annual celebration, highlighting the role of tax technology tools in streamlining compliance workflows for Indian CA firms and tax practitioners.
Intuit Connect ON: What You Need to Know About the Latest Platform Innovations
Intuit Connect ON showcases the latest platform innovations for accounting and tax professionals using QuickBooks and related Intuit tools. The event highlights new AI-driven features, automation enhancements, and workflow improvements designed to streamline tax preparation, bookkeeping, and client management for CPAs and tax practitioners. Updates span tax filing automation, data integration, and practice management tools, reflecting Intuit's continued investment in technology to help tax professionals improve efficiency and accuracy. These innovations are directly relevant to tax practitioners seeking to modernize their workflows using cloud-based and AI-assisted tax software solutions.
How NXP Semiconductors helped bridge the gap between Pillar Two readiness and Real-World Filing
NXP Semiconductors, a global semiconductor company, worked with Orbitax to bridge the gap between Pillar Two readiness and actual GloBE Information Return (GIR) filing. The case study details how NXP leveraged Orbitax's technology platform to manage the complex data requirements and compliance obligations under the OECD's Pillar Two global minimum tax framework. The solution helped NXP transition from preparedness assessments to real-world filing execution, addressing challenges around data aggregation, jurisdictional calculations, and reporting accuracy required for GIR submissions across multiple jurisdictions.
Guidance: Income Record Viewer for agents: service availability and issues
HMRC's Income Record Viewer (IRV) for agents is a digital service allowing tax agents to access clients' income and PAYE records held by HMRC. This publication tracks service availability, known issues, and updates for the IRV tool used by agents to verify employment history, pension income, and tax codes when preparing self-assessment returns. It is a practical tax administration tool relevant to personal income tax compliance in the UK, helping agents accurately assess client tax positions and reducing errors in tax filings.
Report Suggests 40% of Workers Have Used AI to Make Fake Expense Receipts
A report reveals that approximately 40% of workers have used AI tools to fabricate fake expense receipts, raising significant concerns for corporate expense management and tax compliance. Fraudulent receipts submitted for reimbursement can distort business expense deductions, creating potential corporate tax liability issues and audit exposure. The trend highlights a growing intersection of AI-enabled fraud and tax integrity, with implications for internal controls, payroll expense reporting, and HMRC/IRS compliance. Companies and tax authorities may need to adopt AI-detection countermeasures and tighten expense documentation standards to safeguard against inflated deductions and fraudulent claims.
Software developers providing customs declaration software
HMRC maintains a list of approved software developers whose products support customs declaration submissions in the UK. This guidance is relevant to businesses and agents filing import/export declarations under the Customs Declaration Service (CDS). The software tools listed facilitate compliance with UK customs requirements, including tariff classification and duty calculations. The publication is important for traders and intermediaries seeking compliant technology solutions for customs procedures post-Brexit, directly supporting the operational side of UK customs and trade tax obligations.
AI Transforms SARS Compliance and Strengthens Tax Enforcement
The South African Revenue Service (SARS) is increasingly deploying artificial intelligence to enhance tax compliance and enforcement capabilities. AI tools are being used to detect non-compliance, identify high-risk taxpayers, analyse large datasets for audit targeting, and improve the accuracy of auto-assessments. This technological transformation is strengthening SARS's ability to close the tax gap and deter evasion. The integration of AI into revenue administration represents a significant shift in how SARS conducts enforcement activities, with implications for both individual and corporate taxpayers who may face more sophisticated and data-driven scrutiny from the authority.
IRS Sets Introductory Guidelines on AI Use for Tax Professionals
The IRS has issued introductory guidelines governing the use of artificial intelligence tools by tax professionals. The guidance addresses responsible AI adoption in tax practice, covering areas such as data privacy, accuracy obligations, and professional accountability when leveraging AI-assisted tax preparation and advisory services. The IRS emphasizes that professionals remain responsible for AI-generated outputs and must apply appropriate due diligence. The guidelines aim to provide a framework as AI tools become more prevalent in tax compliance and planning workflows, signaling the agency's intent to develop more comprehensive standards going forward.
Guidance: Payroll technical specifications: National Insurance
The UK government has published technical specifications guidance for payroll systems relating to National Insurance contributions. This document provides detailed technical requirements for payroll software developers and employers to correctly calculate and process National Insurance contributions within their payroll systems. The guidance ensures compliance with HMRC requirements and supports accurate NI calculations across different employee categories and contribution rates. It is particularly relevant for payroll software vendors, large employers managing in-house payroll, and tax technology providers needing to align their systems with current UK National Insurance rules and reporting standards.
Landed Cost: La Guía Definitiva para sus Importaciones ERP
This article provides a definitive guide to calculating landed cost within ERP systems for imports into Latin America. Landed cost encompasses all expenses incurred to bring goods to their destination, including customs duties, tariffs, freight, insurance, and handling fees. Accurate landed cost calculation is critical for customs valuation compliance and proper duty assessment. The article likely explores how ERP platforms can automate the allocation of these import-related costs, ensuring businesses correctly account for customs and trade obligations while maintaining accurate financial records for cross-border inventory management.
Taxfyle Launches Plan, an AI-Native Tax Strategy Platform Built to Streamline RIA Tax Planning Workflow
Taxfyle has launched Plan, an AI-native tax strategy platform designed to streamline tax planning workflows for Registered Investment Advisors (RIAs). The platform aims to automate and enhance tax planning processes, enabling RIAs to deliver more efficient and comprehensive tax strategies to their clients. By integrating AI capabilities, Plan seeks to reduce manual effort in tax workflow management, improve accuracy, and allow financial advisors to scale their tax planning services. The tool represents a growing trend of AI-driven solutions targeting the intersection of financial advisory and tax compliance for wealth management professionals.
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