Effectively manage VAT/GST and other international indirect tax compliance
Value-Added Tax (VAT) or Goods-and-Services Tax (GST) is the predominant form of consumption tax system used around the world. With VAT/GST imposed on most sales and purchases, the amount of VAT/GST which flows through a firm’s books can ultimately equate to 30% to 40% of its gross non-U.S. revenue.
VAT/GST is a significant risk that must be actively managed. As governments seek to raise additional revenues, some are introducing new indirect tax regimes while others with existing VAT/GST systems are leveraging technology to more aggressively scrutinize returns for errors. At the same time, VAT/GST rates are generally increasing.
Though VAT/GST is not intended to not be a bottom-line cost, the associated compliance requirements can be complex, and many U.S. firms’ systems aren’t designed to handle them. This can have a direct impact on cash flow and increase the risk of penalties being imposed for non-compliance. Across industries, companies need help managing the impact and risks of VAT/GST arising from their global business activities.
Our International Indirect Tax Services team helps manage your tax compliance burden by implementing an integrated, efficient approach to the varied challenges created by VAT/GST. From analyzing tax exposures to identifying potential refund/reclaim opportunities, we help reduce VAT/GST leakage, and compliance and audit risk through a Total Tax Approach informed by experience and supported by technology.
Capabilities
Our international indirect tax assessment includes:
Analysis of your operational structure and global supply chain
Identification of VAT registration requirements and opportunities to streamline your global VAT/GST footprint
Help resolving any historic exposure
Risk reduction assessment
Our international tax professionals review your VAT/GST governance structure to:
Evaluate the efficacy of your business’s VAT/GST processes and controls
Identify potential refund opportunities
Tax authorities are leveraging technology to examine returns more aggressively. We help to:
Negotiate with tax authorities
Develop solutions to resolve and mitigate VAT/GST controversies
Minimize potential exposures
We look for ways to integrate VAT/GST planning with operational efficiencies to help:
Optimize VAT/GST cash flow
Reach your growth objectives
Reduce costs and risk
Design and implement alternative structures
Our tax team is technology trained. We help streamline processes and programs by:
Customizing an indirect tax approach with the appropriate technologies
Implementing solutions like bots, tax engines and software programs
Cross-border transactions trigger an entire ecosystem of taxes. Our team provides:
Analysis of the VAT/GST consequences of cross-border transactions
Buy- and sell-side due diligence that identifies VAT/GST exposures
An assessment of whether the correct VAT treatment is applied
The development of VAT-efficient structures
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Meet our International Indirect Tax Leader
Matthew Wills
International Tax Managing Director, International Indirect Tax Services Leader
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