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ITX Trade Flow Analyser

Avoiding risks and identifying opportunities

Do you find there’s a missing link between the data from your finance department and (outsourced) logistics departments? During tax audits these figures need to be reconciled and differences, if any, need to be explained to avoid risks (ie. penalties and late payment interests) or missed opportunities (like overpaid customs duties).

 

That’s where our proprietary ITX Tradeflow Analyser comes in. It enables you to cross-check data from different sources (ie. data from an enterprise resource planning (ERP) system vis-a-vis data from the Belgian Customs authorities).

 

Specifically, with PwC’s ITX Tradeflow Analyser, you’ll

  • Gain visibility into total customs duties and import VAT paid (ie. tax areas that present the most impact risk for audit and financial statements)
  • Discover opportunities, such as recovery of customs duties on credit notes
  • Be able to assess whether duties paid through third-party logistics providers (including customs brokers) has been correctly determined
  • Be able to perform checks for export controls

With ITX Tradeflow Analyser, you’ll have complete insight into your firm’s indirect tax aspects (value-added tax (VAT)) as well as the international trade aspects (customs) of goods used in transactions to and from third countries (non-EU).

 

Please contact Marc Hoessels for a personal demonstration of the tool and process.

Calculating the cost of Brexit

Do you know the cost of Brexit to your business? Our proprietary Brexit Assessment Tool uses your data to deliver a tailor-made dashboard that quantifies estimated customs duty and VAT based on a”Hard Brexit” scenario and calculates the estimated increased compliance cost for lodging import/export declarations.

Calling on transactional Intrastat data potentially supplemented with customs data, we can not only calculate the likely financial impact, but also pinpoint areas of potential opportunity to optimise costs going forward.

With 29 March 2019 only months away, the time to plan for the departure of the UK from the EU is now!

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Contact us

Marc Hoessels

Marc Hoessels

Director, PwC Belgium

Tel: +32 496 51 30 80

Claire De Lepeleire

Claire De Lepeleire

Director, PwC Belgium

Tel: +32 475 91 08 68

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