The COVID-19 crisis shook up the global indirect tax landscape, but it also showed that a robust VAT function relies on firm fundamentals.
In brief
- The global stress test of the COVID-19 crisis has pushed indirect taxes to the fore of government efforts to replenish the funds spent shoring up economies.
- Indirect tax compliance obligations are mandatory, but companies have a choice in how to organize their compliance functions.
- Focusing on the fundamentals, businesses can improve their compliance performance to add greater value to their bottom line.
Source EY
