The added value of benchmarking the VAT function against best practices in the market is to gain objective evidence to what has already been achieved but also what still needs to be done to get there.
Our 'free' community Global Indirect Tax Management (GITM) website shares benchmark information about the effective management of VAT. It shows the area where risk based controls are to be expected and in addition shares templates and methods for self assessments purposes.
The article 'Roadmap to Indirect Tax Function Effectiveness' summarizes the GITM content:
- Why is management necessary and what needs to be done?
- How to realize objectives via best practice approaches, tools and methodology
- How to increase indirect tax function’s effectiveness
- Achieving stakeholder satisfaction
- Writing a business case / problem statement and calculate Return on Investment (ROI)
One of the chapters relate to non-routine business transactions such as 'Migration to new jurisdiction', 'The Intersection of VAT and Shared Service Centers' , 'Merger and Acquisition' and 'Change of a company's business model'. Those significant transactions will always exceed the company's risk appetite and these articles explain why, what and how it should be managed.
The following selection of articles supports overall effective VAT management: Company's 'governance', 'operation' and 'infrastructure', An Indirect Tax Strategic Plan: Approach and Scope, Indirect Tax Trends, VAT Control Framework.
All our 'learning lab webcasts' are in English and contain subtitles in YouTube mode.
We hope you appreciate our initiative.
GITM is continuously updated via input of the reader's community all over the world. Your feedback is therefore welcomed.
Kind regards,
Richard Cornelisse
Editorial Board
E-mail: richard.cornelisse@globalindirecttaxmanagement.com
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