VAT - An International Dimension

Value Added Taxes have grown to be a major source of revenue for governments worldwide and will continue to grow as more territories move to more consumption-oriented tax regimes. Territories with existing indirect tax regimes c. 150 countries look to extend these by, for example, increasing rates, expanding the scope, introducing environmental or energy taxes. Indirect tax policies, legislation and compliance are all under increased scrutiny by governments and tax officials.

With the increased globalisation of businesses, the development of e-business and the slowdown in global markets, companies across the world are actively reviewing their structures and seeking new opportunities to invest in new and emerging markets. In the race to increase market share, profits and value to shareholders, businesses can lose sight of the need to minimise indirect tax costs.

There is a danger that unfamiliarity with tax regimes can result in an inability to control the costs of tax compliance and assessments for tax and penalties. The need for careful tax planning is especially true for VAT/GST for which the optimisation of recovery can have a major impact on business profitability. As PwC Ireland is part of a global indirect tax network with offices throughout the world, we are exceptionally well placed to avail of an extensive network of VAT/GST expertise in all other jurisdictions.

Our VAT team aims to assist both local and international clients to manage all aspects of VAT compliance and to optimise international VAT planning opportunities.

Please click here for a more detailed description of the full range of services we can offer your business.

For further information please see our Global VAT Online service (GVOL).