Roadmap to tax function effectiveness

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Global VAT Compliance

The Key Group and Global VAT Compliance (GVC) have a strategic partnership.

  • GVC specializes in VAT/GTS services providing a streamlined solution to businesses all across the globe. Besides European VAT, GVC support businesses with their obligations on VAT and GST in Africa, the wider Asia Pacific region, Japan (Consumption tax), India (Service Tax and GST migration) and Latin America
  • Its specialists have extensive experience in all domestic and cross-border VAT and GST reporting services offering a unique and comprehensive approach to managing VAT compliance
  • GVC offers via the Key Group mytaxflow®, an online friendly user application which helps businesses manage their VAT compliance obligations. mytaxflow® shows all upcoming and current declarations of any type of VAT related filing and its deadline, allowing to upload data, monitor progress and approve returns
  • With its main office operating from the Netherlands and a back office in the Philippines, GVC employs more than 60 professionals with 15 different nationalities

The founder, Henk Hop, is a former Senior Indirect Tax Partner of Andersen and Deloitte. Richard Cornelisse (KG CEO), Henk Hop and GVC’s others Managing Directors Arnoud Bakker and Paul Bakker, worked all together at Andersen in the indirect tax practice.

Take aways 

We combine technical knowledge with industry understanding and knowhow of technologically advanced tools and methodologies available in the market or developed by ourselves.

  • Focus on tax processes that could be improved
    • Manual process: same data requests are made by different stakeholders
  • As Is assessment
  • Anticipate future changes and the data needed
    • What are tax trends?
    • What is happening locally and what should be considered across jurisdictions where you operate?
    • Anticipate new stakeholders and their data needs or requests (internal and external)
  • Define scope and actions for short, mid and long term
  • Write business case for change
  • Realize sponsorship for implementation
  • What tax data is requested and by whom?
  • What tax process can be improved and what can be automated?
    • CIT, VAT, tax data warehouse
  • What is the Return on Investment?
    • Hard saving: process improvement
    • Meeting (new) tax requirement
  • What systems are in use: SAP, Oracle, etc
    • By which entities?
  • How many end-use computing tools (e.g. excel spreadsheet) do we have?
  • How do we avoid an ad-hoc solution?
    • Understand the bigger picture
    • Real problem and not the symptom

Technology-related tax risk: understand and address the potential harms and benefits of (new) technology.

Ascertaining proper IT support for ensuring efficient, timely and reliable reporting.

VAT should be considered in every aspect of the process, from concept through completion and beyond. Managing by design — looking at any process or transaction from end to end and factoring in all the requirements and controls essential to designing and optimizing a compliant VAT process.

We speak the language of the business and IT and no translation is needed.