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For designing or challenging our Indirect Tax Strategic plan: can you provide examples of best practice indirect tax objectives?

Customs and VAT Tax Operations Tax Performance Optimization
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Tax Professional Answers

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Richard Cornelisse
The Tax function overall should:

- Contribute value to achieving the companies business objectives
- Manage ongoing risks and opportunities
- Ensure compliance with tax laws and reporting

Indirect Tax Objectives
Assume that the executive has validated the company’s tax strategy. Subsequently, the performance requirements for indirect tax has to be established and translated to indirect tax objectives (Indirect Tax Strategic Plan).

The following could be used as guideline:

Tax Planning: identify, recommend and successfully implement indirect tax projects that assist in achieving the objectives of the indirect tax department part of the business objectives.

Tax Accounting: proactively anticipate on changes in the business and outside the business and successfully communicate these changes to the concerning departments. Furthermore look after a correct implementation of these changes.

Tax Compliance: look after a correct, complete and timely Indirect Tax reporting of all entities. This includes that additional reporting relating to these Indirect Tax returns is taken into account.

Tax Governance: all corporate departments are well informed and/or have the availability of a VAT work instruction so it is clear when to consult the indirect tax department.

Support Other Departments: activities of departments that are being affected by VAT risks have been successfully identified and these departments have been well instructed to reduce these risks.

Audit Defense: roles and responsibilities have been determined who deals with the tax authorities during an audit (announcement) and tax authorities questions and procedures “how to act” (e.g. never provide documents without first making copies) have been documented and rolled out.
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