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SOX and Changing Practices in VAT

Gary Harley Partner and Katie McGavigan Senior Manager KPMG discuss new approaches and attitudes to VAT management following the implementation of the S-O 404 requirements
If the chief finance officer of an average multinational was asked a couple of years ago how the company's VAT affairs were managed he or she would probably have returned a bemused look and some words to the effect that VAT was all handled automatically through the ERP system.
Ask the same question today and you will receive a very different look and words to the effect of 'we are looking into that right now' 'we are doing an in-depth review' or even 'we have recruited a new VAT compliance manager'.
This change in attitude has been...

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