Indirect taxes and global trade
In recent years, issues related to managing indirect taxes — such as VAT, GST, customs and excise duties — have risen on the corporate agenda.
What EY can do for you
Knowing the indirect tax rules for your business operations and applying them correctly are key to avoid assessments, penalties and goods blocked on airports, harbors, roads, etc. Taxpayers and tax administrators do not always agree about the rules. Complex local legislation, evolving business models and widely different compliance obligations in different jurisdictions add to the risk of disagreements.
We can advise you on the steps to take to strategically meet your tax obligations and resolve tax controversy. We foster an open dialogue with customs authorities, government officials, business partners and other stakeholders about customs and international trade issues, the impact of policy decisions and the importance of free trade.
EY Trade Analytics
TradeWatch Issue 2 2021 is out now
The latest issue of our regular TradeWatch (pdf) publication outlines key legislative and administrative developments for customs and trade featuring insights and tax alerts from our network of Global Trade professionals trade around the world. It comes in an interactive and easy to share format, with links to articles on ey.com and other EY resources, interactive graphics and maps. This edition features a special ‘Post-Brexit’ section as well as Insights from the following jurisdictions:
- Using customs warehouses for e-commerce fulfilment — a comparison of valuation approaches
- Technical Committee on Customs Valuation approves two new advisory opinions
- How the life sciences value chain will be impacted by trade and VAT
- Indirect Tax in Motion: How a structured approach can help businesses control trade activities
- Global Trade Managed Services
- EY Global Customs Talks
- Our Global Trade webcasts
- Brazil: Single-window customs system declaration and product catalog
- Latin America: Nearshoring opportunities in Panama and Costa Rica
- Mexico: Labor implications of the United States-Mexico-Canada Agreement
- United States: Court of International Trade decision questions first sale principle applicability to Chinese and Vietnamese origin goods
- China: Ministry of Commerce provides guidance on export controls by exporters of dual-use items
- China: Customs update – April 2021
- Japan: A step to realizing carbon neutrality — carbon border adjustment mechanism under consideration
- Oceania: Duty drawback for importers and exporters in Australia and New Zealand
Europe, Middle East, India and Africa
- Africa: Implementation of the African Continental Free Trade Area Agreement
- European Court of Justice: Court rules on transport costs and customs value under DAF delivery terms
- EU: Impact of new e-commerce VAT rules on customs
- EU: Trade Policy Review — aiming at open strategic autonomy
- Gabon: Certificate of conformity for imports and exports
- Germany: Customs tariff classification of sports footwear from Vietnam
- Germany: Preparing for customs audits
- Norway: E-commerce VAT rules for low-value imports
In today's global economy, moving goods internationally can be a complex and costly activity. TradeWatch (pdf) provides timely information about customs and international trade developments to help our clients develop strategies to manage duty costs and the risks of global trade, to improve trade compliance and to increase the operational effectiveness of international supply chains.