VALUE Added Tax (VAT) development across the globe has been a major success story in taxation over the last half century, but even with its long existence there is a still need for more improvements in its administration globally.
The Organisation for Economic Co-operation and Development (OECD), an international organisation that works to build policies that foster prosperity, equality, opportunity, and international standards has been in the forefront in development of international standards and guidelines for VAT treatment across border trade to minimise risks of double taxation or un-intended non-taxation which to date remains to be a challenge.
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