Indirect Tax

Globally, governments are increasingly imposing indirect taxes. Since several years, businesses have been witnessing the importance of indirect taxation as governments have embraced the shift from direct to indirect taxation. Within the European Union, many governments have significantly increased their VAT rates over the past few years to offset cuts in direct taxation and shortfalls in social security contributions in an attempt to balance overstretched budgets.

As a result, businesses that do not successfully manage their indirect tax position face the risk that their profitability decreases, that their cash flow requirements increase and that their compliance risks become critical.

For organisations looking to manage and mitigate their indirect taxes (VAT, customs and excise duties, stamp duty), PwC provides a range of innovative solutions developed by the largest indirect tax team in Cyprus. Our approach to indirect tax combines consultative relationship building, with the latest technology, to deliver only relevant and value-adding solutions.

Our mission extends well beyond the mere responding to questions raised by clients or to assessing their day to day problems. It encompasses the proactive addressing of new economic developments, with the aim of advising on issues that entrepreneurs may face in an increasingly global marketplace.

PwC has an extensive global network of indirect tax professionals who are actively connected. Experts meet regularly to share their technical issues, solutions and experiences. Our network has strong bonds with tax authorities and policy makers, including the European Commission.

Potential Issues

We can support your business and add value if your objective is to:

• Maximise VAT recovery.
• Increase margins.
• Ensure your group maximises efficiencies with indirect taxes.
• Improve cash-flow.
• Ensure you don't overpay, in case your organisation incurs a high level of customs or excise duty.
• Ensure compliance with the European invoicing directive.
• Minimise indirect tax liabilities.
• Maximise cash flow advantage.
• Maximise commercial marketing opportunities through efficient VAT planning.
• Increase shareholder value.
• Maintain management control over indirect tax spend.

The products and service areas that we provide are the following:

• Indirect Tax Compliance
• VAT advisory services
• Custon & excise advisory services
• VAT Planning 
• Due diligence reports
• Refund requests
• Training
• Assistance in VAT investigations
• VAT Diagnostic Reviews
• GlobalVATOnline (www.globalvatonline.com) - a web-based information tool allowing you to understand indirect tax regimes and rates across the world.