- Consider how indirect taxes align to your corporate strategy
- Formulate and establish indirect tax management and reporting structures
- Assign high-level responsibility for indirect taxes (e.g., by appointing a VAT director)
- Clearly allocate responsibilities between tax, finance, IT, logistics and the business units
- Map all business flows and analyze their indirect tax impact
- Analyze the impact on VAT/GST, excise and customs costs, and reporting before entering new markets
- Use advanced technology (ERP systems, automated diagnostic tools)
- Streamline reporting and accounting systems used within the company
- Assure proper documentation and archiving of all relevant transactions
- Proactively identify potential issues and seek clarification
- Adopt appropriate key performance indicators to monitor compliance and performance
- Keep up to date with developments, especially in key countries
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