This VAT on sales (also known as a consumption tax), places an administrative burden on Digital Service Businesses. This is coupled with the inherent complexities of dealing with foreign tax offices, such as:
- Language barriers.
- Complex registration and filing requirements.
- Varying filing frequencies.
- Requirements for fiscal representatives.
This process can prove to be immensely time-consuming and cost intensive.
In addition, non-compliance with these laws can lead to:
- Fines and penalties.
- Decreased valuations of businesses wishing to sell.
- Reduced ability to raise financing.
- Increased likelihood of hidden liabilities.
- Tarnished brand reputation.
Vatglobal’s Digital Services Division focuses specifically on comprehensive VAT compliance in the Digital Service space. We specialise in the recently enforced and critical VAT regulations for Digital Services Companies world-wide.
Our indirect tax compliance service involves streamlining international VAT/GST registration as well as regular reporting for e-service companies. We also provide constant correspondence with the respective tax offices in order to ensure our customers are fully compliant.
Vatglobal offers an end-to-end compliance service:
- VAT/GST Registrations.
- Based on your sales data, we will advise in which jurisdictions compliance is necessary.
- Complete the VAT registration from start to finish.
- Indirect Tax Reporting (VAT/GST returns and all other statutory filings).
- File all periodic VAT/GST returns.
- Backdate filing to ensure historic compliance.
- Fiscal Representation.
- Act as fiscal representative in the necessary countries.
- Ongoing compliance support.
- Liaise with the tax offices and tax agents on the ground.
- VAT consulting.
- Answer any client queries in a timely and professional manner.