As shared services evolves, so does it take on more VAT responsibilites. As centres of excellence emerge, VAT knowledge becomes an 'in scope' area. As VAT authorities intensify their scrutiny of companies' VAT reclaims, so companies need to be sure their reclaims are being done correctly, on time and with the right countries' governements. And as VAT is associated only with sales and purchase invoices, shared services organisations are the best placed departments to own this activity.
But getting it wrong can cost the company millions. This section gives you insight into what multi-nationals are doing to improve compliance.