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Indirect Tax Market Report 2014

3 years 10 months ago - 3 years 10 months ago #228 by Caspar001
Indirect Tax Headlines
Indirect Tax cited as one of the key platforms for growth amongst the Big 4, and gaining ever greater recognition amongst commercial organisations. One measure of this increased visibility is that there has been a notable increase in the numbers of Big 4 Indirect Tax partners that have responsibilities above and beyond their immediate Indirect Tax remit. Another is the increase in the numbers of in-house VAT specialists with influence at board level and some have been appointed to Head of Tax positions – the latter historically a rarity.

Greater scrutiny of what clients expect and need from their advisers – resulting in considerable influence on the consultancy firms’ strategies as a whole, an increasingly competitive market amongst the Big 4 and more windows of opportunity for mid-tier firms and niche service providers.

Getting compliance ‘right’ in an increasingly legislated environment remains the watchword for the majority of commercial organisations resulting in greater call for compliance management and tax automation expertise.

Growth and investment in Customs & International Trade, and Export Control.

Recruitment
The war for talent amongst the larger consultancy firms is on – that elusive mix of business winning, client relationship and niche technical skills continues to be in high demand.

Conversely, retaining one’s high achievers is becoming ever more crucial in a candidate constrained market.

Mergers of some of the larger mid-tier firms has resulted in an increase in the influx of work, larger team sizes nationally and recruitment very definitely on the agenda.

An encyclopaedic knowledge of the technical intricacies of Indirect T ax legislation perceived as of less value than commercial aptitude, an ability to spot opportunities and a practical approach to the delivery of solutions, regardless of whether you work in-house or in practice.

Growth of in-house Indirect Tax teams – indeed there have been some businesses that have made first appointments this last year. Senior in- house VAT strategic roles however remain a rarity.

A noticeable increase in the numbers of in-house VAT compliance management and V A T accounting contract roles as a way around headcount issues/quick fix.

Full report: Indirect Tax Market Report 2014

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