In early June 2024, Keeyns, the tax collaboration platform, made an impact at the Uniglobal 6th Annual VAT Management Summit in London. This premier event brought together industry leaders and experts to discuss the latest trends and challenges in VAT management and compliance. Keeyns, represented by its CEO Ruben van Aarle and COO Ramon van Aarle, stood out as an industry expert, contributing valuable insights and solutions to the evolving tax technology landscape.
The summit hosted a presentation by Ruben van Aarle, CEO of Keeyns, who highlighted the critical role of tax technology in preparing tax departments for future challenges. Van Aarle emphasized the increasing complexity of corporate tax environments, the pressing compliance requirements, and the capacity challenges faced by modern tax departments. He demonstrated how Keeyns’ advanced platform streamlines tax processes, enhances collaboration, and ensures compliance with global regulations, positioning Keeyns as an important tech player in tax industry.
One of the significant themes of the summit was the integration of advanced technologies such as AI and machine learning into VAT management. Enrico Liverani, Chief Account of Digital Technologies, presented on harnessing the synergy among e-invoicing, payments, and AI. Liverani underscored the rapid growth of the e-invoicing market and the regulatory drivers pushing for more sophisticated systems. His insights into how AI can enhance e-invoicing systems by improving efficiency and decision-making made sense, reflecting a shared vision with Keeyns on the importance of innovation in tax technology.
Gorka Echevarria’s presentation (Lexmark) on navigating tax compliance for influencers in the digital age provided another angle to the discussions. As digital influencers become central figures in marketing, the VAT implications of their activities become more significant. Echevarria’s detailed exploration of VAT treatment for influencers, including the nuances of different revenue models and the place of supply rules, highlighted the need for adaptable and comprehensive tax solutions – a vision that Keeyns continues to champion through its platform.
Máté Szimilkó, Senior VAT Manager at Taxback International, discussed current VAT trends and compliance challenges, focusing on the VAT gap, policy changes, and the platform economy. Szimilkó’s analysis of the VAT compliance gap and the policy gap provided a macroeconomic perspective on the evolving VAT landscape. His emphasis on the growing responsibilities of platforms as VAT collectors echoed the new strategic priorities.
One of the highlights for Keeyns came during the panel discussion on operating tax technology at an international level. Moderated by Andrew Hocking, VP of Tax Technology at Sovos, the panel included Ramon van Aarle, COO of Keeyns, alongside industry leaders Rieke Komoromi from Novartis and Irmante Stazyte Wouters from Duracell. The discussion revolved around the challenges and strategies for implementing tax technology globally. Ramon van Aarle emphasized the importance of starting with available solutions and collaborating with providers to refine and improve them over time. His practical advice to “jump on the train” and begin implementing technology, rather than waiting for a perfect solution, resonated with the audience and showcased Keeyns’ proactive approach.
The panelists also touched on the necessity of internal stakeholder management and the debate over building versus buying technology solutions. The consensus was clear: while leveraging external expertise is crucial, having internal champions who understand both the technology and the company’s specific needs is equally important.
In conclusion, the Uniglobal 6th Annual VAT Management Summit highlighted the critical role of technology in navigating the complex VAT landscape. Keeyns was happy to demonstrate how its tax collaboration platform can drive efficiency, compliance, and innovation. As businesses continue to grapple with the intricacies of VAT management, Keeyns stands ready to provide the solutions needed to thrive in this dynamic environment.
Key Insights from the VAT summit:
- Integration of AI and ML: Advanced technologies such as AI and machine learning are crucial for enhancing e-invoicing systems and improving efficiency in VAT management.
- Growing role of platforms: Platforms are increasingly becoming VAT collectors, highlighting the need for robust tax technology solutions to manage these new responsibilities.
- Shift in tax department focus: Modern tax departments are shifting their focus from minimizing tax payments to managing tax risks more effectively, emphasizing the importance of advanced tax technology.
- Importance of flexible solutions: Selecting flexible and adaptable tax technology solutions is essential to keep up with evolving legislation and business needs.
- Collaboration and stakeholder engagement: Successful implementation of tax technology requires effective collaboration both within organizations and with external partners, along with strong stakeholder engagement and internal champions.
Keeyns, with its innovative tax collaboration platform, continues to lead in tax technology, helping businesses navigate the complexities of modern tax environments. For more insights, reach out to the Keeyns team, https://keeyns.com/contact/
