Managing global value added tax
VAT obligations, processes and structuring
Internationally active middle market businesses are required to deal with a variety of global indirect tax obligations. With many countries changing their VAT regulations, it can be a challenge to keep up with the complex task of managing activities in multiple jurisdictions, especially without a technical expert on staff.
Our tax specialists can help develop, implement and manage an effective VAT strategy that considers the following key areas:
VAT-efficient supply chain
We review your global structure and transactions to identify areas that can be more effectively organized, as well as pinpoint areas where you have VAT risk or unmanaged liabilities. Through this thorough review of your business and future plans, we make recommendations to help you maximize growth and efficiency.
Account configuration in your systems is critical to improving your compliance process. We take a holistic view of your new or existing systems to cross-check transactions, accounts payable, accounts receivable and expenses.
Delivering on-time and accurate VAT returns can be time consuming and carries a high risk of missed deadlines, penalties and interest, especially for those companies that operate in multiple jurisdictions. Our Global Compliance and Reporting Services team supported by our proprietary VAT accounting software, can track the progress of your indirect tax returns with a comprehensive overview of your VAT filing status and milestones around the world.
VAT education and training
There is a significant degree of human intervention in managing a company’s VAT obligations, from making key decisions to performing compliance tasks. We take the time to understand your needs and tailor coaching based on your business, functions and capabilities. Ultimately, a greater understanding of VAT will help increase the effectiveness and accuracy of those decisions and tasks.
Providing services electronically can trigger significant VAT collection and reporting in multiple jurisdictions.
Learn more about the introduction of VAT in middle east and practical next steps you can take to ensure your organization is ready.
Germany looks to software for aid in efforts to locate foreign business failing to pay VAT on certain electronic sales prior to 2015.