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The impact of VAT compliance on business

10 years 11 months ago - 10 years 11 months ago #78 by rico
The impact of VAT compliance on business was created by rico
PwC -survey
The impact of VAT compliance on business

Results in summary
  • VAT is the predominant form of consumption tax system used around the world.

  • On average it takes the case study company longer to comply with VAT around the world, than to comply with corporate income tax.

  • The time needed to comply with VAT varies considerably around the world and even between neighbouring countries.

  • It generally takes less time to comply with VAT in the developed world than in developing countries.

  • VAT compliance tends to be more time-consuming in countries where indirect taxes are not administered by the same tax authority that deals with corporate income tax.

  • Administrative procedures vary from country to country and these have a significant impact on how long it takes to comply with VAT.

  • It takes less time to comply, on average, in countries where business uses online filing and payment for VAT.

  • The frequency with which VAT returns are required (monthly/ quarterly), and the amount of information requested has a significant impact on the time it takes to comply.

  • Compliance takes longer where extra documentation has to be submitted with the return.

  • There is a correlation between the VAT compliance burden and the time delay in receiving a VAT refund. Typically, where it takes longer to receive a refund, it takes longer to comply.
Richard Cornelisse
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  3. Indirect Tax Trends and News
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