Our VAT specialists will assist you on a wide range services such as Transaction taxes, Customs & Trade, eCommerce, VAT audits and other related activities. Our comprehensive tax advisory service will optimize your tax position and generate value across your operations.
Besides handling compliance in multiple jurisdictions, businesses are looking at their Indirect Tax position as part of their strategies to generate value across complex operations and supply chains, increase efficiency and contribute to the management of regulatory and enterprise risk. Additionally, in the current age of automation, there is a need to understand how technology can add value to your business.
With almost 150 countries operating VAT, GST or VAT-type regimes, the management of VAT and other indirect taxes is a compelling issue for any company conducting business across international borders. As VAT is charged and collected at every stage in the supply chain, failure to understand requirements or to attend to the details can lead to irrecoverable VAT costs. With VAT rates ranging from 5% to 27%, your liability can grow dramatically.
Customs & trade
With increasing globalization and even eCommerce in the B2C area becoming truly Global, it’s obvious that for multinational companies today, the efficient integration of customs and trade processes is crucial for being successful in their overall business goals, tax planning and supply chain management. Any shortcomings in an organization’s international trade planning, internal controls and compliance processes may cause it to overpay duties, overlook compliance issues and incur unnecessary costs and penalties. Governments around the world are expanding their audit efforts to enforce compliance with import and export regulations.
Global VAT Compliance is your partner when you deal with Indirect Taxes in multiple jurisdictions. Besides experience in the greater European area, we support our clients globally in dealing with VAT/GST and customs aspects of a Global e-commerce marketplace.
The Global VAT and GST compliance market is undergoing several landmark changes:
- GST Introduction in India on 1 July 2017;
- VAT on e-Services in Russia, New Zealand and Australia in 2017;
- UK and German measures against non-EU sellers (with a focus on Chinese sellers) selling via marketplaces such as Amazon without being VAT compliant in 2017;
- Changes to EU VAT system for B2C sales of digital services in the EU in 2019;
- Extension of VAT MOSS single registration to goods sold by non-EU sellers in 2021.
VAT & GST on Goods
e-Commerce sales of goods and services are rapidly increasing globally. The large marketplaces take away the borders and enable sellers to reach customers everywhere. Examples of clients that we support are:
> Asian online businesses selling goods into the EU and surrounding markets (e.g. Switzerland and Norway) either directly or via local marketplace (e.g. Amazon FBA)
> European online businesses selling goods into the Asia Pacific with a focus on the Chinese market reached via local marketplaces (e.g. T-Mall/Alibaba)
VAT & GST on Electronic Services
An increasing number of countries are taxing VAT or GST on electronic services supplied from abroad to consumers. As of 2015 the EU applied the Mini One Stop Shop which enables trader to register in one country and report and remit VAT for the entire EU. Global VAT Compliance files EU VAT MOSS returns in various jurisdictions throughout the EU.
Also, countries outside the EU have implemented a mechanism to charge VAT, GST or similar transaction taxes on supplies made from other countries to private individuals.
Our expertise contains all sorts of aspects, not only relating to VAT & Customs duties. Here are some examples of the issues we have worked on for our clients:
> Classification of goods and services
> Supply chain optimization
> Customs and trade advisory
> Duty calculation
> Delivery terms
> Product classification and tax rates
> Certain product labeling requirements (i.e. WEEE and Private Copy Levy)
> Country specific Food taxes (i.e. Sugar and Chocolate Tax)
> Invoicing requirements
We are able to provide VAT audit solutions in an ever-evolving regulatory environment. Our expert team will ensure that your systems, processes and procedures all perform to the highest possible standards. Our expert knowledge is at your disposal to:
> Identify and manage risks resulting from complex sale and purchase flows
> Install internal VAT control steps
> Improve your cash flow
> Maximize the recovery of your local input VAT
> Improve VAT processes and procedures
> Improve the efficiency and effectiveness of your personnel
> Implement and incorporate automated VAT systems to ensure further benefits