Why is indirect tax material to your business?
Globalisation accelerates change. More and more commercial transactions takes place across borders involving indirect taxes, increasing and complicating their tax risks.. The magnitude of Indirect taxes; such as value added taxes, sales taxes, custom duties and excise is rarely highlighted in annual reports. Yet indirect tax raises significant risks for all businesses. Poor indirect tax management can squeeze cash flow, allow the over or underpayment of tax and attract stiff penalties for non-compliance Goods & Services Tax