“As many as 98% of respondents in the manufacturing industry have, or are implementing an online sales channel as part of their digital transformation strategy.” – Sapio Research, 2021
Corporations in a wide variety of sectors are rapidly transforming their supply chains in an effort to reduce costs, expand into more lucrative markets and increase ecommerce sales. Operational and financial benefits are the core goals of supply chain globalization and automation.
However, many companies overlook the impact of indirect tax – Value Added Tax (VAT) and Sales and Use Tax (SUT) – that are assessed by the countries in which they operate. These indirect taxes are based on transactions and trade flows, which means they’re directly linked to all supply chain activities.
Companies that ignore the importance of VAT and SUT compliance could easily erase the expected benefits of a global supply chain, disrupting operations and cash flow and negatively impacting the bottom line in the process.
By effectively managing VAT and SUT obligations and maintaining strict compliance in all countries, companies will be able to reap the full benefits of a global supply chain.
Join this webinar to learn:
· Why VAT and SUT compliance must be a core part of your business’ supply chain strategy from the start
· Key things to look out for when expanding your business into new markets
· How the growth of ecommerce has changed VAT & SUT compliance
