As the world’s governments seek new ways to generate revenues, VAT/GST rates will increase, more jurisdictions will adopt them and the scope of many already in place will broaden. The 2013 Benchmark Survey on VAT/GST reveals valuable insights into emerging best practices, benchmarks and global and regional trends.
In this decade, KPMG’s Global Indirect Tax Services practice expects indirect tax reforms to continue to develop in China, India and countries in the Middle East. In some countries, such as China, there are already extremely short indirect tax reform timeframes under which businesses are expected to adapt their systems and achieve proper compliance.
As the global shift toward indirect taxation continues, businesses will encounter more challenges in achieving full compliance and more pressure on their resources and cash flow. It is critical for businesses to objectively assess how efficient and effective they are at managing what is rapidly becoming one of the most important and riskiest of global tax obligations.
This year’s survey builds on the success of the previous two editions, and provides new questions and analyses for 249 respondents in 24 countries.
Insights from the survey this year include:
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