United States

Value Added Tax Comprehensive Opportunity Review


To internationally active middle market companies—especially those that are 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 at each stage of production. 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 might help meet minimum compliance requirements, it does not ensure that a company is strategically managing the opportunities and risks that are present in a VAT environment. In addition, tax authorities are increasingly focusing on VAT because a substantial gap exists between what the authorities expect to collect and what is actually remitted.

Companies should take steps to prepare for potential tax authority scrutiny as well as to avoid the risks of penalties that might apply for any errors that an inspection could discover.

Make informed VAT decisions
  • Understand your global VAT position and how effectively the business is managing it
  • Identify the 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

How can we help you with international tax concerns?

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Tax innovation webcast series 2021

  • September 09, 2021