VAT ADVISORY SERVICES
Managing VAT compliance and other indirect taxes is a major concern for many companies operating across borders. This is because nearly 150 countries worldwide have VAT, GST, or similar regimes, each with unique local rules and regulations. Without a comprehensive plan and a thorough understanding of local requirements, non-compliance can pose a significant risk to businesses.
Companies offer a diverse range of services and products to meet clients’ needs globally. However, keeping track of local VAT obligations in each country where they operate is challenging. A lack of understanding of local VAT rules and inattention to small details can lead to substantial VAT exposure.
Tax authorities are gaining increased access to company data internationally by sharing big data, making it difficult for companies to avoid compliance.
GVC’s advisory services are designed to help your company achieve and maintain compliance within the jurisdictions of your choice, ensuring your business stays up-to-date with the latest advancements in VAT legislation.
VAT liabilities to consider
In recent years, tax authorities have increased their focus on international businesses and are becoming more adept at identifying VAT non-compliance by non-resident companies. Additionally, many countries continue to adopt new legislation to ensure VAT collection on e-commerce transactions. This creates significant uncertainty for companies and can lead to common consequences of being unaware of VAT obligations, such as:
- VAT assessments
- Interest and penalties
- In-depth audits
- Supply chain interruptions
How to manage VAT compliance?
It is challenging to be VAT compliant in countries where a company does not have a presence, such as for e-commerce or digital service providers. The in-house tax team must cover all these countries, which require local expertise. Moreover, language barriers and unfamiliar legal systems present additional challenges. GVC can support you in these countries by providing local expertise and VAT compliance solutions.
GVC’s Unique Approach
Global VAT Compliance stands out for its unique approach, ensuring that our recommended VAT solutions allow your organization to focus on growth. Our VAT experts will evaluate your VAT procedures and business model, advising you on how to optimize VAT compliance while simultaneously reducing risk.
Our VAT expert team speaks over 23 languages and has extensive experience in VAT consulting and compliance. We can produce a fast assessment of your VAT position and provide you with solutions.
Additionally, we can save you time by giving you the most recent information on a variety of VAT issues you might have. As a result, you will concentrate on growing your business.
GVC can answer all of your questions in a single VAT Consultation call with one of our specialists.
We offer premium VAT Advisory services for any type of business.
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Case Studies
Real-life examples of how we assisted our clients with VAT compliance and advisory
Case study 1
“Expanding business in Europe and the Asia-Pacific region”
One of our E-commerce clients offers online services and supply chain solutions to top brands in a variety of industries. Electronics, medical devices, consumer goods and other products and services are handled by the company. The client has VAT obligations in 35+ countries in Europe and Asia-Pacific countries.
We provided the company with specialized knowledge of how to support the expansion into new countries. At the same time, we made sure that the client meets all VAT compliance obligations. GVC still assists the firm with monitoring developments and providing advice.
Case study 2
“Global VAT Compliance delivered to the client a taxability matrix covering 46 countries.”
The client buys and resells telecom and web conference services from a global telecom provider in 46 countries.
To determine VAT obligations for digital services for B2B and/or B2C consumers, the company asked GVC to create a Global Taxability matrix for their services in these countries.
As a result, a VAT matrix and recommendations were provided to the client.
Case study 3
“VAT compliance implications related to a new Transfer Pricing policy”
A leading company in sports apparel decided to change their business model. This was reflected in a new Transfer pricing policy. The client asked for advice about the VAT implications. In the new policy, the transfer of risk related to transactions between the parent company and the subsidiaries was changed.
GVC examined the effects of VAT compliance responsibilities and provided support with the alignment between VAT and the new Transfer Pricing Policy.
Get in touch with our VAT Experts