How do indirect taxes impact you?
The continuous and growing impact of VAT, customs & excise duties and other indirect taxes on business operations should not be underestimated. However, poor indirect tax management can squeeze cash flow, allow over or underpayment of tax and result in penalties for non-compliance. Furthermore, given the frequent changes of business models and supply chains, the increasing regulations around VAT, customs & excise duties and international trade, and the changing geopolitical and regulatory environment, the management of indirect taxes is generally becoming more challenging.
Do you have a good understanding of the indirect tax aspects of your operations? Do your internal processes adequately facilitate your indirect tax compliance? Do these processes fit into your broader tax compliance approach? Or, have you encountered a complex (international) matter that needs to be resolved?
Our tax advisors are ready to assist you with all types of indirect taxes, including value added tax, customs & excise duties, as well as indirect environmental taxes and levies. We can assist you with fulfilling your reporting obligations, advise you on how to improve your compliance, and stand by you through complex cases and tax audits.
We have experts with industry specific knowledge that understand your business and the wider context of your indirect tax queries. As part of the global KPMG network, we are also able to call upon the experience of our accountants, lawyers and business consultants both in Belgium and worldwide, to provide you with the best possible service.
Value Added Tax
Is your VAT position and compliance optimal?
Whether you do business in a B2B or B2C environment in Belgium, you need to comply with the VAT rules and manage your VAT position on an ongoing basis. How effectively you manage this, will also determine the economic and financial impact of VAT on your business. This is even more the case when you provide VAT exempt supplies and your right to deduct input VAT is limited. To improve your VAT position, our VAT advisors can help you with a wide range of services, including:
VAT Technical Advice
We provide you tailored advice to solve complex VAT cases where the tax treatment is not clear or different interpretations are possible in a national or cross-border context. If needed, we can arrange rulings and stand by you in tax audits or other investigations by the VAT authorities.
When you intend to enter new markets, start an e-commerce business or provide digital services, we consult with you on the specific VAT aspects of your activities and support you to meet registration requirements. If you plan to undertake corporate transactions such as global restructurings, mergers, acquisitions and capital reconstructions, we can advise you on the VAT implications, including potential limitations to VAT deductibility and the VAT aspects of transfer pricing matters. Our advice can help you reduce unexpected indirect tax costs.
VAT Strategy and Optimization
We can review your current VAT position and processes and suggest improvements to optimize your compliance based on industry specific good practices. We can develop and implement effective indirect tax management strategies, including cross-jurisdictional compliance aspects and tailored internal processes and controls. Hereby, we take into account your entire tax compliance approach and practices to achieve efficiency gains and cost reductions.
VAT Returns and Reporting
We can prepare and submit your VAT returns and related reporting, including the periodic intra-Community recapitulative statements and the annual sales listing. Regardless of the size and the nature of your business, we can facilitate complete and timely compliance with administrative requirements.
Customs and Trade
How to manage your customs & excise duties risks
Customs & excise duties are often perceived as inevitable costs for organizations and increasingly complex regulations surrounding this area create significant risks. Being non-compliant could disrupt your supply chain and have a severe impact on your competitive edge. It is therefore important to know how you can best safeguard your operational customs model and avoid goods being blocked and seized when confronted with non-compliance. Furthermore, to improve your competitive position in the market, you need to be able to spot and implement customs & excise opportunities as well as keep pace with ever changing legislation. To better manage your risks, our Customs and Trade advisors can help you with a wide range of services, including:
Customs and Trade Management Strategies
We can help you develop and implement effective customs and trade management strategies, including appropriate internal controls to obtain the AEO (Authorised Economic Operator) status. We can also advise on duty planning by optimally making use of preferential and/or suspension arrangements and simplified procedures.
Customs and Trade Technical Advice
We can provide you with advice and guidance on all indirect tax aspects of your operations and trade, including customs, excise duties, environmental taxes and related measures. If needed, we can arrange rulings and stand by you in audits or other investigations by the customs authorities.
Customs and Trade Declarations
We can assist you with the determination of the correct tariff classification of imported goods and provide you with input regarding the validity of your customs value. We can also facilitate your complete and timely compliance with administrative requirements.
Environmental Taxes & Levies
What is the impact of environmental taxes & levies on your business?
Environmental taxes & levies play an increasingly important role in curbing harmful climate and air pollution practices as policy makers are urged to address the issue of climate change and encourage the use of cleaner energy sources. The integration of fiscal policy and climate policy measures is hereby essential and results in energy tax reforms in many countries. The aim of these reforms is twofold: to implement the ‘polluter-pays’ principle by imposing higher carbon taxes, as well as to ensure fiscal sustainability (i.e. to compensate for the shortfall of state revenue from current energy taxes caused by the uptake of alternative cleaner energy sources, such as electricity). Internationally, these trends are being picked up, including in Belgium, and their eventual impact will greatly differ across the various business sectors.
Understanding the context of environmental taxes & levies can help you to ensure the competitive edge of your business. We can hereby assist you in many ways, including:
- facilitating and ensuring your compliance with the current requirements of environmental taxes & levies;
- understanding the trends and approaches for policy solutions and their potential impact on your sector;
- supporting you in your strategic decisions by helping you assess different scenarios of future developments.
Our indirect tax experts