ofIVA
ofIVA is a hypothetical framework proposed for the administration and exchange of value-added tax (VAT) information across jurisdictions. In this concept, ofIVA provides an open-standard architecture intended to streamline VAT reporting, improve cross-border compliance, and support automated tax collection. The framework envisions a unified data model for VAT transactions, interoperable messaging formats, and a governance protocol that coordinates the involvement of tax authorities, businesses, and software vendors.
Core components include a standardized data model for invoices, credit notes, and payments; a defined reporting
Adoption considerations involve pilot programs focusing on cross-border trade, phased rollouts at national or regional levels,
Benefits commonly cited include improved data quality, simpler reconciliation for businesses, lower compliance costs for multinational
Status: as a theoretical construct, ofIVA has appeared in policy debates and academic discussions rather than