Meeting the Challenge of Expense Management in a Hybrid Work Environment
While the employee-based spend is rapidly evolving due to the shift to hybrid work environment, fast-changing value-added tax (VAT) regulations make it even more complicated to manage expense in businesses with global operations. Generally, VAT business expenses occur when goods or services are purchased for explicit corporate purposes. The gray area comes in when the goods/services also benefit the employee’s private life. Distinguishing between the personal and professional can present expense management challenges when it comes to things like Internet service, meals, and utilities.
Taming the fringe benefit process is quickly becoming essential to corporate tax management as benefit types arise. According to IDC’s SaaSPath Survey 2022, 61% of survey respondents agree that value-added tax will have a significant impact on their tax management process in the next 24 months.
In this latest IDC Info Snapshot, sponsored by SAP 黄色短视频, discuss how the expense management and modern tax solution will evolve as a new future of work develops. Download the paper today to learn more.
