As governments around the world look to raise additional revenues to plug shortfalls, many governments have shifted away from corporate, income, and payroll taxes. Instead, they’re raising revenue through ‘indirect taxes’, such as value added tax (VAT), goods and services tax (GST), sales and local taxes, customs and excise duties, and so on. Proof of this trend can be seen with the introduction of GST in Malaysia in 2015, as well as the planned introduction of GST in India in 2017 and VAT in the Gulf States.
The introduction of new indirect tax regimes and changes to existing regimes can create significant challenges for most business. Though certain indirect taxes are not a bottom line cost for many clients, the compliance requirements can be complex and there can be an impact on cash flow. Our Indirect Tax Services team has deep knowledge about indirect taxes in the 158 countries in our global network. Our Indirect Tax team meets regularly and our corporate culture of collaboration means we bring the knowledge of the network to all engagements.
Our tax professionals can help you manage your indirect tax compliance burden and we can help you put strategies in place to ensure an efficient approach to the varied challenges created by indirect taxes. We provide an integrated approach to help you manage your indirect tax issues across jurisdictions. And, you get hands-on involvement of our most experienced professionals – people who take pride in exceptional client service.
Our services related to indirect taxes include:
- Providing advice for minimising VAT/GST cash flow issues and the chance of being subject to interest or penalties for non-compliance
- Developing and implementing appropriate indirect tax strategies
- Providing advice about the implications of indirect taxes on real estate transactions
- Assisting with the implementation of efficient processes to avoid customs duty costs and cash flow issues
- Training staff on specific indirect tax-related issues
- Preparing ‘bad debt’ relief claims to recoup VAT overpaid in insolvency situations
- Preparing technical tax submissions to tax authorities with respect to indirect tax issues
- Engaging with tax authorities on your behalf in the event of an indirect tax audit
To talk to your local BDO indirect tax expert, please visit your the BDO web site for your country.