VAT Advisory

Maxcon’s Value Added Tax (VAT) Advisory services focus on our client’s overall tax performance, creating greater possibilities to measure and improve efficiency, develop a more strategic method to tax, and deliver outstanding shareholder value. With VAT implementation ensures high and improved transparency levels thus a streamlined methodology for seamless and accurate Audits.

Maxcon professionals help clients plan and implement efficient processes and technologies that improve the efficiency and effectiveness of fiscal operations Via benchmarking current performance, identifying best practices about peer and historical performance, and measuring the delta between reality and the potential of our client’s tax.

We assess tax positions and develop strategic plans that encompass transaction organizing, business reorganization, and alternative filing regions. And, we ensure that the efforts of our clients’ tax are positively impacting the overall objectives of their organizations. In essence, Maxcon provides a clear strategic approach for transforming the tax function into a Tax Competency Centre.

Our expertise services include:

Planning to identify correct VAT activities treatment
Detecting areas of threat through compliance health check
Assisting with inspections, registrations and address reporting requirements
Interacting with legal advisors in respect of asset transactions

VAT Services include:

VAT planning and structuring – this includes providing support to ensure a maximum recovery of input tax, specifically for financial services organizations operating a partial exemption input tax recovery method.
Pre-transactional rulings

– in search of a decision from the VAT authorities in advance of a transaction to ensure the right VAT treatment is carried out.

International and financial services – advising on the point of supply, reversing charges and partial exemption approach.
Assets related matters– advising on the VAT implications of developing, obtaining, disposing of and letting commercial, residential or other assets including recovery of input tax on development costs, exercising “an option to tax” and transfers of a current subject.
Dealing with VAT investigations – liaising with HM Revenue & Customs/ Isle of Man Customs & Excise to provide files needed, responses to queries raised and assistance with mitigating any resulting VAT liability, penalties or interest due.
E-business– we offer a range of Vat advisory services to online business sectors including gambling, software, telecoms, data, tech and biomed business. These services include commenting on corporate structuring, a region of supply matters, VAT recovery, and compliance.

VAT in Maxcon: Overview

As a member of VAT and implements service the relevant VAT directives. A particular act of parliament and some subsidiary legislation promulgate the applicable rules, which are administered by the Department of Value-Added Tax. The standard rate of VAT is 18%, but there are reduced charges for some products. All companies with a Maxcon VAT number are required to submit (typically on a quarterly basis) returns indicating supplies and inputs.

Why VAT Advisory?

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