Indirect Tax in 2012: evidence for action
The continuing and well-established importance of indirect taxes to governments around the world reinforces the need for global businesses to be informed and responsive. Trends indicate that:
- During the next 10 years, indirect taxes will be the leading source of new revenue for governments worldwide
- Governments will use consumption taxes to balance budgets, promote and regulate trade and support environmental and social initiatives in the future
- Indirect taxes are a key source of risk for multinationals and compliance is one of their top two tax issues
The implications and impact for businesses are significant higher tax rates will cause more severe consequences in the case of non-compliance and mistakes. Non recoverable indirect taxes raise the costs of doing business, make production more expensive and call for increased efficiency in order to make up for the increased costs.
Join us as Ernst & Young professionals examine the trends, challenges and implications of the constantly changing VAT/GST rules and other indirect taxes around the world. Keeping up to date with the significant changes is critical; the findings of the comprehensive survey, Indirect Tax in 2012, clearly demonstrate the need for action. It is no longer an option, it is an imperative.