VAT consulting
VAT may be one of the more complicated, and, let’s admit it, “inventive” forms of taxation ever dreamed up, but it can actually help companies to better organise and administer their transaction tax functions. That’s not to say that VAT can’t be a time-consuming and onerous task—it can. Consider the extent and range of your ongoing VAT responsibilities: Not only do you have to ensure that everything that your company produces and sells is VAT-compliant, but your tasks expand exponentially if you do business within the EU or abroad. That also means that you’re probably always on the look-out for ways to minimise VAT on your business operations. And if you do operate globally you also have to be able to recognise (and lower) the kind of VAT liabilities that emerge from cross-border mergers and acquisitions, company reorganisations, and the creation of new entities or subsidiaries. So, in addition to ensuring that your company is in compliance with a myriad of international VAT rules and regulations, you must also ensure that you VAT management staff stays up-to-date with the latest global developments in VAT rules and regulations. By any sensible measure, that’s a huge responsibly for a company to take on.
If this is your situation
- You must find a more effective means of providing your in-country and foreign-based VAT management personnel with on-going advice on VAT compliance obligations.
- You believe that a disproportionately large number of your company’s VAT assessments are either incorrect or excessive.
- You want to integrate your business planning processes with your VAT management system, but are not sure of where to begin.
- You have appeared before a number of VAT tribunals due to various liability rulings imposed by your customs officials. You need more effective representation—and a way to forestall such events in the future.
- You must make certain that your company’s VAT accounting and reporting processes are able to deal easily and efficiently with both ongoing regulatory change, and the ordinary daily demands of your business.
- You would like to set up a VAT training program to ensure that upper management, as well as all your indirect tax specialists, are kept apprised of the latest global VAT developments.
- You need to better manage and supervise VAT compliance in your various EU and non-EU subsidiaries.
How PwC can help you
At PwC (PwC) our professionals have enormous experience helping companies managing their VAT requirements across countries and continents. Our VAT advisory teams are leaders in advising on both local and global VAT requirements, as well as the regulatory environments that govern them. With both your long and short-term goals in mind, we can help you design VAT strategies specific to your business needs and challenges. Working together, we can show you how to properly manage your VAT returns and audits, as well as how to prepare your company’s financial data to so that it complies with the demands of the VAT authorities in the countries in which you operate. And, in addition to helping you identify latent problems before they become real issues, we can also evaluate your entire VAT management processes and provide counsel on how to handle them in the most efficient manner. For instance, we can not only ensure that your company’s VAT assessments are correct and help prevent investigations by the tax authorities (should they deem your VAT returns or import declarations improper or incorrect), but we can also provide in-depth advice on savings and duty planning. Let us show you how.
