The complications of indirect tax compliance have been further heightened by the frequent shifts in rates, rules and how they’re applied. Many governments have been lowering corporate tax in a bid to attract inward investment, while raising indirect tax rates to compensate for the loss of revenue. The rapid growth in the digital economy and ever more extended global supply chains have in turn increased the number of countries in which even relatively small companies have a taxable presence. With this presence comes the need not only to register for indirect tax, but understand the vagaries of the local rules and ensure appropriate systems and controls are in place to calculate and report the right amounts at the right times.
Keeping up to date with developments in indirect taxation is a full-time job. Every day seems to bring new indirect taxes, rate changes, and new reporting and compliance obligations. Global businesses must keep track of all these changes — both those that have happened and those that are coming down the line. And they must adapt their indirect tax policies, transactions and accounting processes accordingly to pay and recover the right amount of tax. But knowing what is changing is not always easy. Our conference will cover main aspects of Indirect Tax compliance. It would not only focus on global and local regulatory updates as other events but as well it will go over automation and digitalization of Indirect taxes and VAT.