Indirect Tax Function Effectiveness About Being Efficient And Effective At The Same Time
Indirect Tax Strategic Plan
To challenge the Indirect Tax Function’s short and long term business plan objectives the site contains a roadmap of an ‘Indirect Tax Strategic Plan‘ and includes examples of ’Setting the Objectives Of The Tax Function‘.
Visit also all ‘Richard’s Blog Postings Tagged To The Building Blocks‘ of an indirect tax strategic plan. Feedback is given on the various components of Indirect Tax Function Effectiveness.
Legislative Change And LinkedIn Discussion Group
Tracking relevant legislative changes across the globe can be realized via regularly monitoring the ‘Website Links‘ (e.g. latest country updates, Global VAT rates and VIES validation, case law search) and the LinkedIn Group ‘Global Tax Management‘.
This site ‘Indirect Tax Newsreader‘ captures automatically the latest indirect tax and direct tax flashes across the globe.
Tax Controversy Strategy
Risks and Opportunities
For self assessment and effectively communicate risks and opportunities:
- ‘Why Manage Indirect Taxes‘
- ‘Why Calculating The Taxes‘
- ‘Key Risk Areas‘
- ‘VAT Throughput Calculation‘
- ‘VAT Throughput And Benchmarking‘
- ‘Indirect Tax Exposures Others Have Faced‘
- ‘The European Union VAT System – A High Level Overview‘
- ‘Systems For Dummies‘
The content of above topics might increase VAT awareness and support timely indirect tax planning.
Trends And Benchmarking
Benchmarking of indirect tax functions can be beneficial when the current position of the indirect tax processes and roles and responsibilities are known and can be compared with a set of best practice standards. Benchmark reports might give such an insight or provide information re the priorities and/or concerns of the “peer” tax function:
‘Trends And Benchmarking‘ and ’The Value of Benchmarking: Get Some Objective Evidence‘ insight could provide additional incentives to trigger change. How to influence stakeholders: ‘Managing The Perception Of C-level‘.
Business Model Change
From a tax perspective the difference between future firefighting or being in control has to do with being involved and the timing of that involvement. A tight connection to the business units and their decision-making process is essential. Leading practice example re non routine transactions:
- Merger and Acquisition – Integration and Indirect Tax: Managing the Moving Parts Before, During and After a Transaction
- The intersection of VAT and shared service centers. A site for global savings or a source for worldwide risk?
Indirect Tax Technology About Indirect Tax Automation
About SAP and Oracle and automated Indirect Tax Functionality.
If you provide goods and/or services locally subject to the standard VAT rate it might be ‘Plug and Play’. That is the most simple VAT business model. In practice, configuration (the amount depends) is needed when companies deal cross border and/or complex business model are set up such as a centralized principal structure with for example “Limited Risk Distributor” or “Commissionaire”.
Read more about Systems: ‘Indirect Tax Automation’ And ‘Plug and Play’
Richard Cornelisse is CEO of the KEY Group and worked previously as Big4 Partner in the Tax Performance Advisory and Indirect Tax Practice and blogs on Tax Function Effectiveness and Tax Control Framework developments.