Indirect taxes ― such as value added taxes, sales taxes, custom duties and excise ― can represent up to a third of a company’s annual turnover. The magnitude of these tax collections is rarely highlighted in annual reports. Yet indirect tax raises significant risks for all businesses. Poor indirect tax management can squeeze cash flow, allow the over or underpayment of tax and attract penalties for non-compliance. KPMG’s Indirect tax team provides advice and assistance at Bulgarian and international level. We structure our effort to dovetail with your business issues and strategy. Our focus is on supplying value adding, pragmatic advice rather than just a list of recommendations.
Our tax professionals are able to review your company's current tax position and provide relevant advice and planning on a range of indirect taxes including VAT, customs duties and excise taxes and help companies with their administrative obligations and contacts with administrative bodies.
Our Bulgarian practice works closely together with Indirect Tax professionals in other EU and non-EU countries. Please visit our Global Indirect Tax Web site: www.kpmg.com/indirect tax.
We offer a range of indirect tax services including:
- Reviewing the VAT and excise compliance status of companies
- Assisting businesses in the set-up of enterprise resource planning (ERP) systems and providing subsequent reviews
- Providing VAT, customs duties and excise planning, as well as strategic advice on cross-border projects, supply chain transactions, contracting structures, optimization reviews, etc.
- Supporting businesses through VAT compliance services including, but not limited to, assistance with the VAT registration procedure, preparation and filing of VAT and Intrastat returns, management of the risk of non-compliance, etc.
- Assistance with any VAT recovery procedure (domestic refund claims or 8th/13th Directive)
- Providing comprehensive and tailored employee trainings on the development and implementation of effective indirect tax management strategies, including appropriate internal controls and cross-jurisdictional compliance
- Supporting businesses subject to tax audits or other investigations by tax or customs authorities.