Despite the shift to indirect tax globally a new survey released by KPMG International shows that businesses are simply not keeping pace.
In fact, according to KPMG International’s 2012 Benchmarking Survey on VAT/GST, VAT/GST continues to be under-resourced, under-managed and under-measured by the majority of global businesses.
This year’s survey builds on the success of the first ever global VAT/GST benchmarking survey, published by KPMG in 2011, with new questions and comparative analyses for 225 respondents headquartered in 24 countries. Compared to the 2011 survey results, there is tangible evidence that some businesses have started to take steps in the right direction to deliver effective VAT/GST management on a global scale, although there is still a long way to go to keep pace with the obligations, risks and opportunities which the shift to indirect tax globally is creating.
© 2017 KPMG Audit LLC, the Mongolian member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity.