Strategy, planning, and compliance.
Customs duties and trade policy present unique challenges that U.S. and global companies face when operating with regulated cross-border transactions. We call it the “customs triangle” of tariff classification, customs evaluation, and origin. Most companies are reactive and do not have the internal resources to address compliance and identify planning opportunities.
TMO Consulting’s Customs and International Trade Services practice works with businesses optimize to their global duty spend and decrease risk and exposure. We help multinational companies navigate the complex rules governing the cross-border movement of merchandise and services, with the goal of minimizing duty, VAT and excise tax payments, while maximizing corporate customs and trade compliance.
- Tariff Classification Reviews / Tariff Engineering
- Customs Rulings, Protests, and Administrative Filings
- Prior Disclosures and Penalty Cases
- Customs Valuation in Coordination with Transfer Pricing Analysis
- Export Controls and Sanctions
- Import/Export Audits
- Free Trade Agreements
- Supply Chain Planning
VAT Compliance and Complexity
In today’s global economy, more than 160 countries impose value-added tax (VAT) or goods and services tax (GST) on transactions of all kinds. With VAT/GST levied through all stages of the supply chain, it can have a significant financial impact.
The amount of VAT for which a business is ultimately responsible typically equates to 30-40% of gross non-US revenue. For U.S. firms not accustomed to the regulatory requirements – and whose systems are rarely designed to handle them – VAT/GST compliance can be daunting. With tax authorities in most jurisdictions leveraging technology to scrutinize returns, the risk of error detection is ever increasing.
Complex Regulations, Continuous Change
TMO Consulting’s dedicated team works with U.S.-based companies to manage all aspects of the impact and risk associated with VAT/GST and other international indirect taxes. We provide a holistic, global perspective and in-country local support through services that include:
- VAT/GST registration
- Strategic planning
- Risk management
- VAT/GST compliance
- Tax Systems automation
- Oversight and assurance
- Reporting and analysis
TMO Consulting serves clients in all industries and in a wide range of capacities. We are equally comfortable advising in-house tax departments, assuming full day-to-day responsibility, or anything in-between. At all times, our goal is to work closely and collaboratively with our clients to help find the most effective solution for their unique indirect tax needs.
Global resources. Central coordination.
Tax compliance regulations have become increasingly complex, especially for U.S. organizations with overseas operations. As businesses expand globally they face mounting regulatory pressures, strict and diverse reporting standards, and sophisticated revenue authorities. Technology, e-filing requirements, and system-based audits are driving change in the marketplace – and TMO Consulting has deep experience with all of it.
The Global Tax Outsourcing team manages each client’s range of services through a central, professional point-of-contact. Services are coordinated across areas of focus and geographies. Our customized, secure, web-based portal provides a comprehensive overview for each client, and includes individual user-based access restrictions depending on service type, country of origin, seniority, and more. With more than 1,500 offices in over 160 countries, TMO Consulting is able to provide coordinated global tax services to clients of almost any size.
- Foreign income tax preparation and advisory service
- Indirect tax return preparation and advisory service
- Initial registrations, calculations, reconciliations, and submission of direct and indirect tax returns
- Foreign withholding and information return reporting
- Local tax provision preparation
- Global payroll services
- Transfer pricing advisory services
- Back-office services
Managing the risks, identifying the opportunities.
Global growth opportunities have changed where and how companies conduct business – presenting both new sources of revenue and new challenges. Reducing tax burden, while minimizing associated risk, is a significant factor in the bottom-line success of global operations.
International tax is ever-changing, with complex rules, evolving regulations, and a need for local focus. U.S. tax reform has driven a significant impact on the U.S. international tax landscape, coupled with the on-going activity from the Organisation for Economic Cooperation and Development (OECD), and minimum standards regarding base erosion and profit shifting (BEPS). For even the most sophisticated organizations, operating in foreign countries presents obstacles.
Drawing on resources from more than 1,500 offices worldwide, BDO’s International Tax Services team provides the perspective and experience necessary to prosper in new markets, regardless of complexity. We offer partner-led, collaborative services to companies expanding into or from the U.S., including strategic tax planning and consulting on cross-border sales, investments, or partnerships, and other treasury management matters. All projects are managed with holistic view toward each client’s total tax liability, leveraging our BDO colleagues globally.
- Customs and International Trade
- Global Tax Outsourcing
- International Desks