Improving Value-Added Tax Management Processes and Controls
Approximately 160 countries impose some form of value-added tax (VAT)1 as a principal source of public finance. Although a VAT is not currently imposed in the United States, U.S. companies involved in cross-border trade are likely to encounter VAT.
Adequate management is imperative to maintain compliance, mitigate risks of overpayment and underpayment, and help avoid penalties and interest charges.
How Crowe Can Help
Crowe VAT practitioners help multinational organizations reduce uncertainty in measuring and reporting the tax implications of transactions in and across diverse jurisdictions. Our services focus on maintaining compliance and enhancing efficiencies through model management, control design, process improvement, refund and recovery, and implementing sophisticated planning strategies.
Our VAT services include:
- General VAT advisory services
- Strategy and model management
- Supply chains
- Overhead costs
- Mergers and acquisitions
- VAT recovery services
- Foreign travel
- Quantifying credits on VAT inputs
- Filing of refunds
- VAT compliance services
- Audit defense and conflict prevention and resolution
1 Referred to as a goods and services tax (GST) in some countries