Indirect taxes, ranging from GSTand customs duties to environmental levies, affect the supply chain and the financial system. They pose unique challenges to multi-national tax functions, since they must be managed accurately and in real time. These often invisible taxes can have significant impacts — on cash flow, absolute costs and risk exposures.
Thanks to our network of dedicated indirect tax professionals, who share knowledge and ideas, we can provide a seamless, consistent service throughout the world and deal effectively with cross-border issues. These include advising on the GST treatment of new and complex transactions and supplies and helping resolve classification or other disputes and issues with the authorities.
We provide assistance in identifying risk areas and sustainable planning opportunities for indirect taxes throughout the tax life cycle. We provide you with effective processes to help improve your day-to-day reporting for indirect tax, reducing attribution errors, reducing costs and ensuring indirect taxes are handled correctly.
We can support full or partial GST compliance outsourcing, identify the right partial exemption method and review accounting systems. Our customs and international trade team help you manage customs declarations, audit and review product classifications and evaluate import/export documentation. Our globally integrated teams give you the perspective and support you need to manage indirect taxes effectively. It’s how Ernst &Young makes a difference.
A recent decision by the High Court of Australia is a precautionary tale for any New Zealand business which receives forfeited deposits on cancelled sale agreements. This impacts all types of sale agreements requiring a deposit, but is prevalent for property related transactions.
Please click here to read full article (from Tax Watch post budget brief newsletter - June 2008)
There have been a number of recent GST developments that you will need to be aware of including changes from the GST Officials Paper and the July tax bill.
Please click here to read full article (from Tax Watch Brief newsletter - August 2008).
Iain Blakeley +64 9 300 8015
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