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VAT Compliance Opportunity Review (VATCOR)

To internationally active middle market companies, especially those new to the global marketplace, value added tax (VAT) can be an intricate form of taxation.

Essentially, VAT is a system by which governments raise revenue through the value added to a product or service at each stage in the supply chain. Due to complexity inherent in this method, companies often rely on automated accounting functions and local finance personnel to actively manage the obligations that come with VAT compliance.

While this approach can help meet minimum compliance requirements, it does not ensure a company is strategically managing the opportunities and risks present in a VAT environment. In addition, tax authorities are increasingly focusing on VAT, as a substantial gap exists between what authorities expect to collect and what is actually remitted.

Companies must take steps to prepare for potential tax authority scrutiny as well as to avoid the risk of penalties for any errors discovered upon inspection.

Make informed VAT decisions

  • Understand your global VAT position and how effectively your business is managing it
  • Identify related opportunities and risks
  • Develop and implement a strategic plan to prioritize your path forward

How can RSM help?

Our VAT Comprehensive Opportunity Review (VATCOR) provides a comprehensive and strategic assessment of your VAT environment, allowing you to make informed decisions and mitigate potential risk. This assessment identifies opportunities for you to:

  • Create VAT savings
  • Improve VAT compliance efficiency and accuracy
  • Improve operational and structural efficiency
  • Reduce transactional risk
  • Improve understanding and knowledge of VAT across the organization