In recent years, governments have been putting emphasis on indirect taxation rather than direct.
Northern Irish businesses that operate locally need to be able to understand the complex VAT implications of doing business in the UK to ensure they manage their VAT risk and are aware of any opportunities to save VAT. Any unforeseen VAT liabilities, errors and assessments not only impact on the bottom line and on cash flow but can also attract interest and penalties.
Increasingly, Northern Irish businesses are seeking out opportunities on a global basis and when operating in international markets will face complex VAT systems, case law, guidance and legislation. When entering new markets, expanding globally or joining international supply chains, companies will need to comply with thorny VAT rules.
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