Natural Resources - Are you managing your indirect tax affairs effectively?

Whether you are involved in oil and gas, power and utilities, mining or commodity trading, the manner in which indirect tax compliance and cash-flow is managed continues to be an important consideration for businesses.

Across the globe we are seeing a trend of governments seeking to increase tax revenues through the introduction of new or radically reformed VAT/GST regimes. In addition to the complicated regulations focused on mitigating fraud, challenging market conditions and increased scrutiny into company tax affairs means there is an even greater focus on clients ensuring they manage their indirect tax affairs effectively.

Our Natural Resources team is geared towards providing clients in these sectors with practical and commercially focused advice to cover VAT, Customs & Excise Duties and Environmental Taxes. We bring a wealth of industry experience in the UK through specialist teams based in key hubs around the country, for example mining and commodity trading in London, oil and gas in Aberdeen, and power and utilities in Manchester. In addition, through leveraging our international network we can provide you with a unique insight into issues affecting industry and a truly global service but with one single point of contact, saving you time and enabling you to add value to your business. We are able to support in a number of areas including:

  • Transactional support - ensuring the rules are applied correctly when accounting for indirect tax on commercial activities.
  • Supply chain and value chain transformation – which includes providing support through business transformation / reorganisation initiatives and ERP implementations.
  • M&A/Deals – pre and post deal due diligence, remediation activity as a result of a deal and ad hoc advisory following integration.
  • Risk management – including helping you develop an efficient process and control framework to manage indirect tax risks.
  • Developing indirect tax capability – delivering training to tax and commercial teams.
  • Technology – working alongside our Tax Reporting & Strategy team to help ensure you obtain the best out of your technology solutions.
  • Dispute resolution – helping to resolve indirect tax disputes with tax authorities and support you during indirect tax audits and enquiries.
  • Compliance – working alongside you to develop solutions to ensure your compliance process is fit for purpose and appropriate for the size and complexity of your business.

To find out more about how we can support you please contact Prem Mehta, our Natural Resources indirect tax lead.

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