Indirect Taxation (VAT and customs)
PricewaterhouseCoopers can help you to address business challenges through the strategic management of indirect taxes. We provide efficient and effective cross-border indirect tax management systems that will help you minimise costs, improve cash flow and deal with customs & duty issues.
We can assist in streamlining import and export activities and reduce business costs by identifying savings opportunities and minimising the customs compliance burden. Our team can help your business proactively manage customs-related risks by establishing effective compliance measures and reviewing them in the context of changing regulations.
The proposed Value Added Tax (VAT) for the UAE presents both opportunities and risks for UAE-based and global businesses. Our internationally experienced team can help your business gain a competitive advantage by facilitating effective and efficient preparations for VAT within the implementation timeframe, as well as advising you of your ongoing responsibilities. Specifically, we can assist you to:
- Assess the impact, including review of VAT on prices and costs, and transaction analysis to provide advice on classification, valuation, applicability of taxes on transactions and admissibility of tax benefits/exemptions
- Scope, plan, implement and review your VAT implementation programme
- Analyse and review business processes and plan efficient corporate structures
- Undertake your registration with the appropriate government department and liaise on business specific issues to ensure readiness
- Advise on the review contracts, communication with, and education of customers and suppliers about how the changes will affect their dealings with you
- Carry out health checks and implement compliance measures, including review of business enterprise systems, while assimilating the entire process into your company's operational structures
- Maintain management control over indirect tax spend and increase shareholder value
- Train staff to deal with new systems: financial and accounting; information technology; and organisational
- Review taxation and regulatory obligations to minimise your VAT liabilities and reduce your exposure to tax penalties and interest
- Focus on both savings and strategic opportunities as well as risk management.
PwC is the leading Indirect Taxes advisory practice and was the first with dedicated VAT experts in the Middle East region. Our Middle East Indirect Taxes network is lead by internationally experienced Tax Partner, David Stevens, and reflecting the region's importance, our Global Indirect Taxes Network Leader Ine Lejeune, is based here.
PwC's indirect tax experts have helped put VAT systems into operation in leading and emerging jurisdictions around the world and, following our work on phase one, when Dubai Customs recently announced their second phase launch of the VAT project, they also engaged us as their adviser to “assist in the VAT implementations.” ( Dubai Customs Press Release, 21 November 2007).
Our excellent relationships with local revenue authorities and comprehensive understanding of the regulatory and policy environment, combined with our global network of experienced professionals ensure we will deliver the optimal solution tailored to the unique concerns and demands of your business.
