Indirect Tax

In today’s economic environment, tax authorities worldwide are placing greater emphasis on indirect taxes as a reliable source of revenue. Correctly managing VAT, customs and excise obligations not only strengthens compliance but also prevents unnecessary costs and disruptions.

At the same time, businesses face increasingly complex organizational structures, global supply chains, and frequent legislative changes. Within the EU, the continuous update to VAT rules has led to frequent amendments at both Union and national level, creating additional challenges for businesses operating across borders.

Against this backdrop, global businesses must remain alert to developments in the VAT and indirect tax landscape. Each stage of the tax life cycle (compliance, planning, accounting, and dispute management) carries potential risks and opportunities. Without timely expert advice, businesses face increased exposure to penalties, interest, and reputational risk.

• Strategic VAT and indirect tax planning – devising and implementing strategies to mitigate VAT liabilities and costs.
• Advisory on cross-border projects – including supply chain transactions, contracting structures, customs and excise planning, and optimization reviews.
• Compliance management – support with VAT registration, preparation and filing of VAT and VIES returns, and strengthening internal controls to reduce compliance risk.
• Technology enablement – leveraging technology solutions to enhance VAT compliance, reporting, data analytics and process automation.
• Audit support – assisting clients during VAT or customs audits and investigations, from pre-audit reviews through to representation before authorities.
• Recovery and refunds – managing domestic VAT refund claims and applications under the 8th and 13th Directives.
• Training – providing tailored workshops for staff responsible for managing VAT and indirect tax obligations.
  
  

Our approach is pragmatic and solution-driven: we tailor our advice to your business strategy and sector, aiming to deliver practical outcomes rather than theoretical recommendations.

KPMG’s Indirect Tax professionals can review your company’s current position and provide targeted advice on a wide range of issues, including VAT, customs duties, excise taxes, reorganizations, acquisitions, and tax audits.

Through collaboration with colleagues from our global network, our Cyprus practice offers seamless support on both EU and non-EU indirect tax matters. Please visit our Global Indirect Tax website for more information.