Indirect Tax Compliance

Indirect tax compliance is becoming a bigger focus for companies today for a number of reasons:

  1. Indirect tax compliance is hitting the Board agenda - due to cost of compliance, financial penalties and reputational risk. This can be caused by lack of visibility and control around indirect tax compliance - late filings, late payment of VAT, late registration, incorrect postings on returns, increased tax authority audit and scrutiny.
  2. Globalisation of trading footprint - whether through movement of goods caused by complex supply chains; increasing European or global customer base and trading presence; or traditionally domestic businesses trading online and creating compliance obligations in other countries.
  3. Business are changing how they traditionally operate in the finance and tax space - due to headcount pressures; budgetary restrictions on recruitment; downsizing; shared service centre centralisation of business processing (and reporting); cost reduction initiatives; shift in ownership of indirect tax compliance from finance to tax or vice versa.

How we can help you

To make sure that you're managing the increasing needs for indirect tax compliance, we have teams that can work with you whether you want to outsource your compliance processes, keep them in-house or use co-sourced arrangements. Click on the area below that best suits you to find out more. 

Indirect Tax Compliance and process improvement

Are you looking to manage or mitigate your indirect taxes (e.g. VAT and customs duties)?

PwC provides a range of innovative solutions developed by our team of indirect tax experts. Our approach to indirect tax combines consultative relationship building with the latest technology, to deliver only relevant and value-building solutions.

We have expertise that can help you with: 

Whether your organisation stays local or plays on an international stage, you are legally obliged to comply with VAT requirements - often in several countries at once. Managing the different facets of VAT in a cost-efficient manner is a key to your success.

How could VAT grouping benefit your business? A VAT group lets people and entities that are closely linked financially, economically and organisationally be regarded as a single VAT person. That means sharing your tax burden!

E-invoicing and e-archiving can speed up your operations, making them more accurate and cost-efficient. But they come with their own set of tax and legal requirements.

Want to improve your organisation's effectiveness and efficiency? A well-designed enterprise resource planning (ERP) system connects all the areas of your organisation - including those related to indirect tax. The challenge is to understand all the available options and make decisions that best support your business, invoicing and indirect tax reporting obligations.

Contact us

Chrysilios Pelekanos

Partner - Head of Indirect Tax, Head of East Market & Deputy COO, PwC Cyprus

Tel: +357-22555280

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