CTI Group has announced that the latest release of its Analysis e-billing system now has improved regional tax reporting for business usage. The latest update comes as a direct result of changes to tax reporting requirements within the telecoms industry across a number of regional markets.
Beginning in 2015, telecoms, broadcasting and electronic services will be taxed in the country where the customer resides or is registered. This applies whether the customer is a business or a consumer and whether the supplier is based within the EU or outside. From a business perspective, it is either the country where they are registered or the country where they have fixed premises receiving the service.
For a consumer this means the country where they are registered, have their permanent address or normally live. This is a substantial change from prior EU taxation rates which were based on the location of the supplier; hence the new EU legislation sees taxation migrating from purchase to consumption.
Trevor Davis, head of products at CTI Group, said: “This latest version of our Analysis solution now delivers a higher degree of granularity of taxation for telecoms services allowing business users to complete tax filings accurately across all the regions in which they operate and bill. Many service providers currently use billing systems that neither recognise nor detail taxation, therefore our solution ensures that they can now offer their business customers a highly relevant and distinctive value-add service which will ensure they remain competitive and compliant.”
