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COVID-19 and the related shock to the global economy may cause a major cashflow challenge for businesses. In this context, effective management of VAT and other indirect taxes can potentially increase working capital.

We have set out in this document a number of measures that may be relevant for your business. An illustration of how VAT flows through a business is outlined below. Changes to the timing and quantum of these flows can have a signficant impact on cashflow.

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