China

Details

  • Service: Tax, Indirect Tax
  • Type: White paper
  • Date: 4/26/2010

Driving Indirect Tax Performance - Managing the Global Reform Challenge 

Even before the global downturn, indirect taxes such as Value-added Tax (VAT) and Goods and Services Tax (GST) had been extending their reach into new areas of the global economy to become an increasing percentage of government revenues.

 

According to a whitepaper from KPMG International, the new economic realities faced by governments around the world mean that significant reforms are about to take place. These reforms are expected to accelerate the shift away from direct taxes towards indirect taxes like VAT, presenting many new risks, challenges and opportunities for businesses operating globally.

 

The whitepaper, the second in KPMG International's Driving Indirect Tax Performance series, titled Driving Indirect Tax Performance Managing the Global Reform Challenge, explains why the importance of VAT to governments globally is unlikely to diminish any time soon as more countries come to rely on it as a significant, stable source of tax revenue.

 

Highlights from the whitepaper include:

Developing countries are likely to increasingly look to VAT as trade barriers fall, along with revenues from import tariffs and duties.
Developed countries will likely look to their VAT systems to raise more revenue in the future.
Finance and Tax Directors must be pro-active in considering how their organization is responding to the global VAT changes which are impacting on their markets, operations and internal systems.
 

Get in touch with KPMG China

 


 

Subscribe to receive email alerts or e-Newsletters from KPMG China when new updates are available.