There has been a shift, both in Ireland and globally, as governments move their focus from direct to indirect taxes. This has been driven by the need to increase overall tax revenues, combined with the economic efficiency of indirect taxes. This change in focus has led to higher VAT rates and more pressure on tax administrations to enforce compliance.
Higher VAT rates increase the cost of business for financial services companies. They incur irrecoverable VAT costs, and suffer more severe consequences for non-compliance or mistakes.
Revenue’s increased focus on VAT is leading to greater scrutiny of taxpayers’ affairs through more frequent and effective VAT audits. In this environment, the chance that mistakes will be found has risen. More than ever it pays to proactively manage your VAT.
We advise leading financial services companies on their VAT matters. This includes advising on the treatment of new and complex transactions and helping resolve disputes with Revenue.
We help identify areas of risk, and sustainable planning opportunities. We support full or partial VAT compliance outsourcing, help identify the right partial exemption method and review accounting systems to improve your VAT reporting. We work with our international network of indirect tax professionals to address cross-border issues.
We are market leaders in the provision of VAT services in Ireland. Talk to us today.
Our cloud-hosted global VAT and GST reporting tool redefines and standardises the preparation, production and reporting process for your VAT returns.
