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Indirect tax compliance
Keeping abreast of indirect taxes regionally and globally can be tricky. Tax authorities are asking for more data and information faster, putting pressure on already stretched tax departments. EY teams can support you in understanding the obligations relevant to you, and helping you remain compliant in this increasingly digital era.
What EY can do for you
The EY global network of indirect tax professionals combines technical knowledge, market and industry experience, and access to relevant enabling technologies to support you in managing risk, improving cash flow and meeting your compliance obligations. We provide visibility across your footprint, insights and opportunities to help you meet your business objectives locally, regionally and globally.
We focus on compliance services for various aspects and types of indirect taxes and related digital reporting. This includes:
- Value-Added Tax (VAT), Goods and Services Tax (GST) and Sales and Use Tax (SUT)
- Standard Audit File for Tax (SAF-T)
- Global trade
- Excise taxes
- Insurance premium tax (IPT)
- Environmental and energy taxes (EET)
- Electronic invoicing
Global Indirect Tax VAT/GST compliance operating models
Insourcing
The insourcing approach used by EY teams helps clients meet their obligations accurately and efficiently. We can equip your in-house professionals with powerful technology tools that simplify and standardize processes, capturing analytics, exception reporting and dashboards. Using our technology your business can gain control and oversight over your VAT/GST reporting and compliance process and help you improve the integrity of your underlying data.
The EY Global VAT Reporting Tool automates the production of VAT/GST returns globally in a user-friendly, interactive way, with EY teams updating all relevant changes in VAT/GST law and administrative practice globally. This results in some technology investment from you, while leveraging the EY network of technical professionals. This is overlaid with powerful dashboards and data analytics to help identify anomalies in the VAT treatment of transactions as well as insight into your business flows and VAT cash flow. This provides you with a risk managed process with efficient control and limited cost.
Outsourcing
The approach to outsourcing helps companies meet their VAT/GST obligations accurately and efficiently, without the need for large investments in in-house talent or monitoring of constantly changing regulations across the world. The EY Global VAT Compliance and Reporting service is the enabler, using advanced technology and deep subject matter knowledge to transform how you fulfil multi-country compliance obligations, including those for VAT, GST or other VAT-type indirect taxes.
EY professionals who understand your business bring you new perspectives through significant investment in the award-winning EY Global Tax Platform (GTP). Powered by Microsoft Azure, GTP offers the crucial foundation for seamless outsourcing. Your business is supported with appropriate technology that can improve risk management and tax governance through global visibility and control. Accessible at any time and from anywhere, it also can improve tax data quality, provide high-value analytics and help identify opportunities.
Co-sourcing
Entirely outsourcing your indirect tax obligations can be an effective approach, but between that and insourcing there can be a more optimal, flexible and tailored solution for some companies: co-sourcing. By continuing to own critical functions, while co-sourcing others, companies can improve both effectiveness and efficiency and set better priorities around where their in-house people and process solutions can add the most value. In some cases, specific geographies and activities are outsourced, while others are managed in-house.
Functional control remains in-house through the EY Global VAT Compliance and Reporting hybrid co-sourcing approach. EY resources help manage those parts of the VAT/GST compliance obligations where EY teams can offer more value and address areas of added complexity. With EY people and infrastructure available on an as-needed basis, this gives your organization greater flexibility, and you gain opportunities for significantly reducing your costs to recruit, train and employ in-house talent.
How EY can Help
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Our globally integrated tax teams give your business the perspective and support you need to manage VAT, GST and SUT effectively. Find out more.
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Our excise tax professionals can help your business reduce its risk, enhance compliance and build a unified tax strategy. Find out more.
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EY Sustainability Tax professionals can help your business realize your corporate sustainability strategy. Learn more.
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