Government policy and EU decisions have had a dramatic effect on the VAT and Customs systems in recent years. Rates and indirect tax liabilities in various EU countries change frequently and the number of indirect tax compliance visits and investigations carried out by the VAT administration is increasing. This trend is likely to continue with governments raising more revenue through indirect taxes, alignment of indirect tax legislation within the EU, the increase in international trade and the introduction of VAT systems by more non-EU countries.
How KPMG can help
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 Belgian 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.
We offer a range of indirect tax services:
- Advising businesses and their tax teams on the development and execution of effective indirect tax management strategies, including appropriate internal controls and cross-jurisdictional compliance.
- Advising on the indirect tax consequences of entering new markets and undertaking corporate transactions such as global restructuring, mergers, acquisitions and capital reconstructions.
- Assisting in reducing indirect tax costs and in managing transfer pricing matters and related Value Added Tax (VAT) valuation issues.
- Supporting businesses subject to tax audits or other investigations by tax or customs authorities.
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 (such as tax audits, reorganizations and acquisitions, etc.) and help companies with their administrative obligations and contacts with administrative bodies.
Our Belgian practice is working closely together with Indirect Tax professionals in other EU and non-EU countries. Please visit our Global Indirect Tax website: www.kpmg.com/indirect tax.