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A New Opportunity

Patrick Walker UK Indirect Tax Leader PricewaterhouseCoopers looks at the likely impact EU Accession will have on shared service centres and reviews VAT invoicing and VAT harmonisation in the EU
The major VAT impact to shared service centres (SSCs) in 2004 will be the EU enlargement involving the admission of ten new countries on 1 May less than one week from the publication of this article. If SSC management have not prepared for this event they could face difficulties particularly as they may be exposed to new fiscal authorities penalty regimes and new business cultures.
As a result of EU accession SSCs are likely to require significant IT input and will need to restructure business processes make changes to VAT invoicing and revise legal and accounting...

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