Cash flow optimization
Cash flow is vital to business, regardless of size. VAT cash flow management is crucial to improve working capital and avoid VAT becoming a cost of business. VAT Consult helps clients with the review and implementation of VAT cost saving opportunities. Our support may include the set-up of VAT friendly supply chains, VAT grouping, deferment licenses, VAT suspension reliefs, increase VAT recovery, accelerated input VAT recovery, historic VAT claims, bad debts reliefs, etc.
Applying the correct VAT regulation to business transactions can be very complex. VAT Consult assists clients with obtaining legal certainty by obtaining rulings for complex VAT cases so that exposures can be mitigated, or savings secured.
Getting VAT wrong can result in adverse VAT consequences. Increasing the VAT knowledge of teams dealing with VAT is therefore important. VAT Consult can provide general and customized training on domestic and international VAT regulation to various stakeholders (AP teams, AR team, accounting, etc.).
Businesses often get to the point where it becomes necessary to have dedicated resources for managing their VAT affairs. VAT Consult offers support to businesses in need of a dedicated VAT resource either to manage the VAT aspects of a specific project or to manage their overall VAT function.
The relevance of the concept of fixed establishment (FE) can hardly be over-stated. Similar to the concept of permanent establishment (PE) for income taxes purposes, the term plays a central role in VAT. This is a highly relevant and hot topic considering the strict approach of certain EU countries including Belgium. VAT Consult supports clients to understand if their presence and activities trigger a “fixed establishment” exposure based on country specific legislation and EU developments and provide do's and don’ts to manage existing VAT risk exposure.
Mixed VAT payers
VAT can be a significant burden for exempt businesses or non-profit organizations and may have adverse impact on available budget. Therefore, mixed taxpayers may benefit from looking into possibilities to optimize their VAT position. VAT Consult assist mixed / exempt VAT payers (such as federations, lobbyists, professional organizations, sport clubs, cultural institutions) with determining the level of VAT deduction (optimizing pro rata / actual use), reduced VAT rates, VAT adjustments, VAT exemptions, etc.
Due dilligence & internal review
M&A transactions are often not part of the day-to-day operations of the finance and tax departments. VAT Consult can help address the challenges and actions faced when the organizations become involved in mergers, acquisitions and disposals. VAT Consult assists clients with pre- and post-merger / acquisition due diligence, disclosures and remediation activities, integration support. We can also assist with obtaining insight into where material VAT risks and opportunities may arise (awareness) as well as the set-up of an appropriate VAT control framework.
VAT compliance & audits
Businesses operating in multiple jurisdictions face the challenge to keep pace with each jurisdiction’s compliance and reporting requirements. VAT Consult assists with recurring compliance work (preparation and submission of various VAT and/or intrastat returns and fiscal representation), foreign VAT recovery, registrations and de-registrations, reconciliation, review of invoicing requirements, etc.). VAT Consult assists clients with VAT audits and dealing with the authorities, including strategic advice on how to address pending audit requests.