Global Indirect Tax - Map of Recent Developments - Vertex
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Global Indirect Tax - Map of Recent Developments - Vertex

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Map sequence that illustrates recent global indirect tax and value added tax developments by country/region.

Map sequence that illustrates recent global indirect tax and value added tax developments by country/region.

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Global Indirect Tax - Map of Recent Developments - Vertex Presentation Transcript

  • 1. Global Challenges of Indirect Tax
    1
     *Shifting the Balance from Direct to Indirect Taxes - PwC 2011
  • 2. 2
    • VAT/GST systems exist in 156 countries
    • 3. Eight more considering implementation by 2013 
    Global Challenges of Indirect Tax
  • 4. Significant systems changes required and comprehensive testing projects
    Business Tax and VAT to merge in China – pilot in 2013, targeting fully implemented system in 2015
    3
    Global Challenges of Indirect Tax
  • 5. Australian GST law expanded by 100 pages and shows no sign of slowing down*
    Australia looking at New Zealand’s GST system for simplification
    4
    Global Challenges of Indirect Tax
  • 6. Malaysia plans to introduce GST in 2013
    5
    Global Challenges of Indirect Tax
  • 7. India plans to replace 11 indirect taxes with two GST (Federal and State level)
    6
    Global Challenges of Indirect Tax
  • 8. Gulf Cooperation Council seeks to implement GST systems by 2012/13*
    Syria has deferred VAT implementation until 2012*
    7
    Global Challenges of Indirect Tax
  • 9. Six of the world’s 10 fastest growing economies are in Africa
    Increased oil and mineral output is expected to elevate African economies
    8
    Global Challenges of Indirect Tax
  • 10. VAT rates in Europe are the highest in the world averaging over 20%
    European Commission embarked on a consultation to simplify VAT
    9
    Global Challenges of Indirect Tax
  • 11. 5,500 Brazilian taxing jurisdictions (Federal, State, and Local)
    SPED system rolling out
    across Brazil
    10
    Global Challenges of Indirect Tax
  • 12. 10,287 Sales/Use/Rental U.S. tax jurisdictions
    187,688 Individual U.S. tax rules
    11
    Global Challenges of Indirect Tax