Since the standard VAT rate is to increase to 20% in January 2011, we should see a greater emphasis on efficiency and error minimisation. Central government revenue raising may also be facilitated through greater focus on niche taxes such as IPT and environmental levies.
As the public purse is further called to account, public services must drive productivity through effective tax planning, structuring and system reviews and look to specialists to design and advise on the projects. The VAT package changes, the new penalty regime and the increasingly globalised world economy will continue to highlight attention on international trade and cross border transactions.
For many large corporates, the implementation of ‘reasonable steps’ required under the 2009 SAO agenda focuses on the indirect tax arena. This commitment to compliance, comprehensive accounting – and the desire to impact revenues – continues to contribute to the demand for dedicated indirect tax specialists.
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To find indirect tax specialists, speak to your local recruiting expert in tax or search our candidate database.