Indirect tax: with change comes complexity
March 11, 2013 16:00 GMT
March 11, 2013 17:00 GMT
(Please note: Also available on-demand is the first broadcast, which was at 5:00 a.m. EST on the same day.)
The continued importance of indirect taxes to governments around the world reinforces the need for global businesses to be informed and responsive.
Trends indicate that:
- VAT/GST rates are increasing
- Excise duties are rising
- The network of free trade agreements is widening
Indirect tax systems are becoming more efficient, but tax authorities are increasing their focus on compliance and enforcement for all indirect taxes.
The implications and impact of these trends for businesses are significant:
- Higher tax rates will cause more severe consequences in the case of non-compliance and mistakes.
- Non recoverable indirect taxes will raise the costs of doing business, making production more expensive, thus requiring efficiency improvements to make up for the increased costs.
- International trade is opening and becoming more complex as companies do business in new markets; these developments bring opportunities but also the need for tighter compliance to obtain the benefits.
Join our discussion as we examine the trends, challenges and implications of the constantly changing VAT/GST rules and other indirect taxes around the world.
Keep up to date as we share the significant trends identified in our annual survey, Indirect Tax in 2013.
Ernst & Young LLP
Steve Bill is a member of EY’s Tax Policy team. Based in London, he advises clients on the effective and strategic engagement of tax policy-makers to shape policy development and influence and effect change.
Prior to joining EY in 2010, Steve worked for the European Commission for more than 25 years. He joined the Commission in 1982 and had several different jobs in DG Taxation and Customs Union. In 1991 he was appointed to be the Head of Unit for all indirect taxes other than VAT. In 1999, he became Head of the VAT Unit. He joined the Cabinet of Commissioner Kovács as deputy head in 2004, and from 2006 until 2010 he was Head of Cabinet, responsible for Taxation and the Customs Union.
Steve has an MA in International Relations and was recently awarded an OBE for services to international taxation.
Hadijah Nannyomo is a senior manager in the East African practice of EY. Based in Nairobi, she has extensive experience of African indirect taxes including Customs, Excise and International Trade in Kenya, Uganda Rwanda, Tanzania and South Sudan and Value Added Tax in Uganda and Kenya. In 2011 she also undertook a secondment to South Africa in 2011. She has participated and facilitated several workshops on trade and indirect taxes across the Africa and EMEIA regions.
Hadijah holds a Masters Degree in Economic Policy and Planning and a Bachelors Degree in Statistics. She is a member of the ACCA in the UK and the Institute of Certified Public Accountants of Uganda.
Prior to joining EY she worked with the Uganda Revenue Authority for seven years where she had induction training in all taxes and then joined the Customs and Excise department.
Ernst & Young (China) Advisory Limited
Robert Smith is the leader of the EY Indirect Tax Practice for Asia Pacific. Based in Shanghai, he advises businesses on indirect tax matter, specifically, for businesses facing the changes brought by the Shanghai VAT Pilot which started from 1 January 2012.
Robert has a master’s degree in Professional Accounting and a bachelor’s degree, both from Brigham Young University. He has passed the US CPA exam and is a licensed US Customs Broker.
Claudio Fischer is a member of EY’s Tax Policy team. Based in Zurich, he advises clients on the effective and strategic engagement of tax policy-makers to shape policy development and influence and effect change.
Prior to joining EY, he was the head of the VAT legislation unit within the Swiss Federal Tax Administration. Here he was responsible for the development of the Swiss VAT regime, including the profound remodelling and modernization of the 2010 VAT Act. He was also a Vice Chair of the OECD’s Working Group on Consumption Taxes.
Claudio holds a Master of Law and is a Swiss admitted lawyer. He is a lecturer for tax policy at the Swiss Institute for Taxation and co-editor for a major Swiss tax journal.