With indirect tax becoming an increasingly popular method of revenue raising, and more recently with the disruption of supply chains due to the COVID-19 pandemic, it is more critical than ever that businesses manage indirect tax compliance and cash flows. Deloitte’s indirect tax specialists are well-informed and understand the nuances of regulations, the importance of deep industry knowledge, and the growing role of technology.
Value Added Tax (VAT), Good and Services Tax (GST) and other transaction-based taxes:
In a globalized digital world characterized by fast moving markets, changing business models and the increasing prevalence of VAT/GST, keeping pace can be a challenge. Indirect tax processes and reporting that fail to keep up with these changes, risk non-compliance and adverse impacts on cash-flow and penalties from tax authorities.
Deloitte’s network of Indirect Tax and industry-focused specialists help businesses manage their indirect taxes effectively by providing tax technical support, guidance on effective processes implementation, and efficient leveraging of technology solutions. Working together, Deloitte professionals in the Asia Pacific region help clients manage costs and risks, both locally and globally.
Global Trade Advisory:
Global businesses need to understand the global import and export regulations applicable to their business and establish cost-effective internal controls to manage and monitor their international trade compliance. Through Deloitte’s Centre of Excellence (COE) in AP for Global Trade Advisory solutions, customs and global trade specialists around the world can help businesses establish an international business strategy designed to manage costs and global trade regulatory requirements, while leveraging innovative technology solutions.
Overview of the regional network:
Deloitte’s VAT Advisory and Global Trade platform spans all main geographies in the Asia Pacific region enabling Deloitte professionals in AP to come together to deliver seamless, innovative solutions to clients. It is one of a suite of technology solutions, developed by Deloitte that can be customized to the specific needs of regional and global clients.
Deloitte’s Indirect Tax teams across AP comprise award-winning skilled professionals, the majority of whom have experience of indirect tax systems in several countries and who advise on complex matters.
Growth of indirect tax in AP:
Over the past three years, there have been significant VAT reforms in the region. Deloitte’s scale and depth has helped Deloitte in AP to become the preferred provider of choice for many clients to assist them with the implications of the new legislation on their businesses. Coupled with helping clients through technology changes that are required to meet new indirect tax compliance environments, Deloitte in AP has been able to pursue steady and consistent growth year after year.
Innovation aspects and digital capabilities:
Deloitte firms in AP have designed a suite of tools and technologies, including compliance solutions, data analytics, and robotic process automation (RPA) to assist with automation of compliance, analysis of data to uncover opportunities and risks, and artificial intelligence (AI) tools to assist with mass classification for customs purposes, the management VAT refunds, etc. Deloitte has recently gone live with its first operate arrangement in Asia Pacific, under which a leading multinational client's indirect tax function across 18 countries in AP, covering 117 entities is outsourced to Deloitte.
Unique digital capabilities in AP countries:
Deloitte teams in Australia, China and South East Asia are the region’s innovation hubs, pioneers in indirect tax automation and analytics with a focus on identifying opportunities and improving efficiencies for our clients through use of technology and in-house developed tools.
In the Customs area, Deloitte professionals in AP are pioneers in GTS with a series of wins with Chinese outbound clients, and an increased focus on strengthening export controls requirements.
Our key service offerings include:
At the International Tax Review’s (ITR) 2020 Asia Tax Awards, Deloitte won 13 awards, including:
Deloitte’s presence in AP includes approximately 103 offices in more than 120 cities in over 20 countries, with 45 indirect tax partners and over 690 indirect tax professionals.
For the purposes of this submission, Deloitte in Asia Pacific refers to the partners and professionals providing indirect tax services in Deloitte firms in Australia, China, Cambodia, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam.
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