Global Indirect Tax Brief December 2013

Global Indirect Tax Brief December 2013 - KPMG

With changes in indirect tax rates, rules and regulations happening around the world, the number of countries with news to share in GITB is growing. Twenty-seven KPMG member firms from around the world contributed to updates and insights in this edition of GITB.
As you read through the articles, you will see common themes of regulatory and legislative activity such as:

• a focus on indirect tax compliance audits
• implementation of anti-fraud measures
• changes in tax las to broaden the tax base
• the introduction of revision of customs policies.

All of this new activity – on top of the massive expansion of indirect taxes around the globe during the last 20 years – creates global complexity and can result in leaving potential value on the table. KPMG’s Global IndirectTax Services (GITS) seeks to cut through the complexity using our deep understanding and approaches to indirect tax. Simply put, KPMG’s network of indirect tax professionals around the world believes that:

1 the quality and structure of transaction-level data is critical to performance of the indirect tax function
2 automation of data interface transactions is readily available now and will become ubiquitous
3 through process orientation and greater use of technology, businesses can transform data into value
4 data analytics should be central to and a core activity of every businesses’ indirect tax function.

Businesses will have their work cut out for them in order to ensure their functions are prepared to face the global indirect challenges of today and tomorrow. Please read through the articles in this edition of GITB to find out the latest information you need to know.