Do you know where you’re able to sell goods or services without establishing an entity? Or which jurisdictions make bad debt relief available to your business? Pavlo Boyko returns (and trades places with Jacek for this episode), as the team discuss the effect of indirect tax rules and regulations on market attractiveness. Download the Global Guide to Indirect Taxes. Related: Digital Services Tax - a necessary evil? Short on time? Skip ahead: 00:01 Pavlo in the driver’s seat 03:35 How indirect taxes have been used in pandemic times 07:50 What’s in the Global Guide to Indirect Taxes and what countries does it cover? 12:58 VAT registration, entity establishment, import taxes, duties and more areas that international businesses should consider 15:40 The most important questions for finance leaders focused on cost-cutting and revenue generation 18:30 A key import tax consideration for both big and small businesses selling goods 24:05 VAT recovery – why businesses shouldn’t just let it slide 27:43 Digital services taxes and why it’s an area of taxation to watch 34:55 Outro ** CREDITS ** Episode hosts: Jacek Szufan, Rob Hutchinson and Sylvia Petkova Producer: Carlie Bonavia Theme music: Roulette Wheel by JAM Studio, purchased from Shutterstock Music Value Added Talk is a production of TMF Group.

Value Added Talk

S2 06 Navigating indirect taxes across the world

Rob and Sylvia answer the most common VAT-related questions they’ve received since the UK left the European Union. You can read their recent article here. Have a question for the show? Email podcast@tmf-group.com or click here to make an enquiry with our international tax team. Short on time? Skip ahead: 00:01 Intro 02:14 Key pain points for businesses since Brexit 06:33 As a non-established business, can I continue trading in the UK in 2021 as I did before? 08:50 As a non-established business, do I need a new VAT number for the UK? 10:13 As a UK business, can I still make refund applications for VAT incurred in the EU in 2020? 13:00 As an EU-based e-commerce business, do I need to do anything different in 2021, or can I continue selling to my customers in the UK as before? 15:03 As a UK business that is VAT registered in various EU member states, can I continue trading as before? 17:34 I’m a business established and registered in an EU member state, and I’m trading in the UK. I’ve incurred a substantial amount of UK VAT on invoices from suppliers. Can I still recover this VAT? 20:24 As a UK business selling digital services across a number of EU member states, can I continue using the MOSS scheme? 22:38 Key takeaways for businesses 24:00 Outro CREDITS Episode hosts: Rob Hutchinson and Sylvia Petkova Producer: Carlie Bonavia Theme music: Roulette Wheel by JAM Studio, purchased from Shutterstock Music Value Added Talk is a production of TMF Group.

Post-Brexit VAT rules: your questions answered

Jacek, Sylvia and Rob debate Deutsche Bank's proposal of a 5% per day working from home tax, and they explain why UK businesses selling to the EU should have a fiscal representative on standby, as Brexit negotiations continue. Want to weigh in on future episode topics? Follow us on LinkedIn and leave a comment, or send us an email: Podcast@tmf-group.com CREDITS Your hosts are Jacek Szufan, Sylvia Petkova and Rob Hutchinson  Producer: Carlie Bonavia Theme music: Roulette Wheel by JAM Studio, purchased from Shutterstock Music. Value Added Talk is a production of TMF Group.

S2 05 Should people who work from home pay more tax?

Download your copy of the COVID-19 Guide for CFOs here.   Have questions? Ask us on LinkedIn or drop us an email: Podcast@tmf-group.com Value Added Talk is a production of TMF Group.

Emine Constantin's COVID-19 Guide for CFOs

VAT represents a great opportunity to potentially access cash quickly, or at later stage. Here’s where you can find some extra funds to support your business during the ongoing global pandemic. A shout-out to listeners Renata, Jovana and Chris for requesting this episode topic! ** LINKS ** Browse our comprehensive list of COVID-19 government support schemes for businesses worldwide. Download the ‘Free’ Money FAQ sheet  - and listen to S1 Ep1 of the podcast for more details. Want to weigh in on future episode topics? Follow us on LinkedIn or drop us an email: Podcast@tmf-group.com CREDITS Your hosts are Jacek Szufan, Sylvia Petkova and Rob Hutchinson  Producer: Carlie Bonavia Theme music: Roulette Wheel by JAM Studio, purchased from Shutterstock Music. Value Added Talk is a production of TMF Group.

S2 04 Where to find extra cash for your business

Jacek, Sylvia and Rob dive into the LinkedIn listener-voted topic of global accounting and tax trends with guest Pavlo Boyko, accounting and tax global solution architect at TMF Group. Learn how COVID-19 has impacted the accounting environment and broader business landscape, and what additional tasks are piling up on the CFO’s desk. The team also discuss the key trends and findings of the 2020 Global Business Complexity Index. Short on time? Skip ahead: 00:01 Intro 07:19 How COVID-19 is affecting CFOs and the finance function 14:14 Moving to a centralised finance and accounting model – pros and cons to consider 18:47 Global Business Complexity Index 2020 – what this year’s findings mean for financial compliance 25:18 Modernisation versus tradition – what old accounting practices should we let go? 28:15 Technology versus simplification – recent advancements and what’s next 32:33 How the role of the accountant is starting to merge with that of an IT professional and others 34:53 What these global accounting and tax trends mean for cross-border businesses ** LINKS ** A comprehensive list of COVID-19 government support schemes for businesses worldwide Podcast episode that Pavlo mentions: Digitisation is taking over the tax world, are you ready? Want to weigh in on future episode topics? Follow us on LinkedIn or drop us an email: Podcast@tmf-group.com CREDITS Your hosts are Jacek Szufan, Sylvia Petkova and Rob Hutchinson  Producer: Carlie Bonavia Theme music: Roulette Wheel by JAM Studio, purchased from Shutterstock Music. Value Added Talk is a production of TMF Group.

S2 03 What’s making the CFO’s life more difficult?

Learn about the tax-specific elements of ERP projects to get right, especially for multi-country rollouts, and some key project do's and dont's. Short on time? Skip ahead: 00:01 Intro 00:31 Why you need a tax specialist involved in ERP implementation projects 03:35 Tax-specific elements to get right, especially for multi-country rollouts 08:22 Key do’s and don’ts, from data gathering to process review and local accounting and tax rules 12:48 Building in local compliance requirements and the testing phase 16:01 The “unknown unknowns” 17:26 Expectation versus reality: how to prevent system “gaps” appearing later 19:10 Pros and cons to legacy processes 20:28 Process owner responsibilities 22:40 ERP implementation timeframes 24:02 Outro CREDITS Your hosts are: Jacek Szufan, Sylvia Petkova and Rob Hutchinson Producer: Carlie Bonavia Theme music: Roulette Wheel by JAM Studio, purchased from Shutterstock Music. Value Added Talk is a production of TMF Group.

S2 02 Healthy habits for ERP system implementation, Part 2

Consultancy Solutions team members Emma and Juraj join Jacek, Sylvia and Rob to talk ERP systems, how to make sure your company’s next implementation goes as smoothly as possible and why the tax element should not be overlooked. This two-part episode covers: What an ERP system is How to best approach an implementation project and minimise the complexity, especially across multiple jurisdictions Why you shouldn’t overlook the tax element Key ERP system implementation do’s and don’ts Considerations when working with an implementation partner. Short on time? Skip ahead: 00:01 Intro 00:50 Lockdown life and Rob’s new healthy habits 02:29 COVID-19: how governments around the world are supporting businesses. Learn more about the various relief schemes here 06:49 Today’s episode topic: healthy habits for ERP system implementation with guests, Emma Kerton and Juraj Maholanyi 07:20 What is an ERP system? 08:34 Who within the business needs to be involved? 09:28 Main issues that can arise 12:09 Mapping out system requirements, processes and building an implementation framework 14:58 Why ERP system implementations can fail – and how to make sure they don’t 17:23 Considerations when working with an implementation partner CREDITS Your hosts are: Jacek Szufan, Sylvia Petkova and Rob Hutchinson Producer: Carlie Bonavia Theme music: Roulette Wheel by JAM Studio, purchased from Shutterstock Music. Value Added Talk is a production of TMF Group.

S2 02 Healthy habits for ERP system implementation, Part 1

Part 2 of this listener voted topic continues with Sylvia asking Shagun about the tax liabilities for distance sellers in APAC. And the team are left wowed by some of the unique taxes that businesses can encounter in the region, including China's chopstick tax and Japan's obesity tax. Have a question for the show or an unusual tax you'd like to share? Email: Podcast@tmf-group.com 00:01 Intro 00:35 Tax liabilities for distance sellers and providers of digital content 06:30 Unusual taxes that businesses can encounter in Indonesia, China, Japan, Singapore, South Korea and India 15:26 Key things to consider when doing business in APAC 17:11 Shagun’s top three compliance challenges for businesses new to the region 20:22 Takeaways 24:48 Outro. CREDITS Your hosts are: Jacek Szufan, Sylvia Petkova and Rob Hutchinson Producer: Carlie Bonavia Theme music: Roulette Wheel by JAM Studio, purchased from Shutterstock Music. Value Added Talk is a production of TMF Group.

S2 01 Tax differences across Asia Pacific, Part 2

Get an essential overview of indirect and corporate tax rates and understand the compliance challenges that new market entrants can face in APAC. Jacek, Sylvia and Rob kick off season two of the Value Added Talk podcast with a listener-voted topic and invite colleague Shagun Kumar onto the show to explore the APAC tax environment, with examples from India, China, Singapore, Indonesia, Japan and South Korea. This two-part episode covers: indirect taxation jurisdictional tax differences corporate tax rates; trends and how they’re being used to attract international investment digitisation and tax liabilities for distance sellers compliance challenges some of the more unusual taxes that businesses can encounter in APAC. Have a question for the show? Get in touch: podcast@tmf-group.com Short on time? Skip ahead: 00:01 Intro 05:41 The indirect tax environment across Asia Pacific 07:22 Lack of regional tax groupings 09:03 Indian GST 11:45 Corporate tax rates 15:34 APAC tax digitisation trends 20:04 How businesses are coping with the change to digital reporting systems. CREDITS Your hosts are: Jacek Szufan, Sylvia Petkova and Rob Hutchinson Producer: Carlie Bonavia Theme music: Roulette Wheel by JAM Studio, purchased from Shutterstock Music. Value Added Talk is a production of TMF Group.

S2 01 Tax differences across Asia Pacific, Part 1

Jacek, Sylvia and Rob close out 2019 with a reflective episode covering Brexit expectations and other European country-level tax developments; VAT quick fixes, SAF-T (Standard Audit File for Tax), digitisation, centralised reporting and the ongoing focus on closing the VAT gap. Tune in to find out what tax challenges businesses operating in Europe may face in the new year … and why the discussion turns to bikinis and pigs in blankets. Have a question for the show? Email: Podcast@tmf-group.com  Short on time? Skip ahead: 00:01 Intro 02:03 Brexit is now definitely happening - what does this mean for businesses? 05:14 Sylvia’s thoughts on a ‘messy’ tax year 08:26 Spotlight on e-commerce tax compliance and closing the VAT gap 13:20 SAF-T and the looming digitisation wave 14:31 Is the tax reporting process set to reverse? Will it make compliance easier? 17:50 Dreams of a single VAT return – is SAF-T the next best thing? 26:43 Getting into the festive spirit 29:26 Closing comments CREDITS Your hosts are Jacek Szufan, Sylvia Petkova and Rob Hutchinson Producer: Carlie Bonavia Theme music: Roulette Wheel by JAM Studio, purchased from Shutterstock Music. Value Added Talk is a production of TMF Group.

S1 06 Year-end tax chat: Brexit, SAF-T and closing the VAT gap

The European Union’s transitional VAT system – in place since 1993 – has long created large compliance and administrative hurdles for businesses. The definitive VAT regime – an origin-based system of VAT – is meant to relieve the pressure and eliminate the need for businesses to register in every member state they may trade with. So how would the definitive system work in practice? Which taxpayers would be able to use the simplified system and when is it meant to take effect? Listen to episode five of the Value Added Talk podcast to find out. Have a question for the show? Get in touch: Podcast@tmf-group.com  Short on time? Skip ahead: 00:01 Intro 05:58 A brief history of the VAT system in the EU 07:26 What is the problem with the transitional VAT system? 09:43 What is the definitive VAT system? 12:57 What could impact the chargeability of VAT under the proposed system? 14:09 How to keep off the naughty list 16:55 Principles of the definitive system 17:55 How sales would be reported 19:35 Is Christmas really coming? 24:05 Challenges in implementing the definitive system 28:05 Closing thoughts Read Jacek’s contribution on how tax will change in the 2020s in the September/October edition of Accounting Technician. CREDITS Your hosts are Jacek Szufan, Sylvia Petkova and Rob Hutchinson Producer: Carlie Bonavia Theme music: Roulette Wheel by JAM Studio, purchased from Shutterstock Music Value Added Talk is a production of TMF Group.

S1 05 What you need to know about the definitive European VAT regime

What does it take to set up – or continue running – an online business while keeping pace with all tax requirements? How do you navigate import tax, sales thresholds, VAT and GST registration and selling to jurisdictions where you must collect the sales taxes? How do your obligations change if you sell goods on a digital marketplace like Amazon or eBay? In this episode of the Value Added Talk podcast, Jacek goes into the fidget spinner business to illustrate the main tax hurdles for online sellers, and how to deal with them. Have a question for the show? Get in touch: Podcast@tmf-group.com Short on time? Skip ahead: 00:01 Intro 03:45 Who is an ‘online seller’ ? 07:39 Why is e-commerce such a big deal? 08:42 Role play: Jacek opens a fidget spinner web store 15:33 Sales thresholds in the EU 16:54 Online sales to Australia or New Zealand 18:22 Selling to the USA and this thing called Nexus 22:00 How to keep track of all your tax obligations 23:34 Selling over digital marketplaces 28:36 How to manage your tax obligations when you sell online 31:43 New to online selling? Understand global business complexity 33:15 In the future – will it get easier? 37:35 Outro CREDITS Your hosts are Jacek Szufan, Sylvia Petkova and Rob Hutchinson Producer: Carlie Bonavia Theme music: Roulette Wheel by JAM Studio, purchased from Shutterstock Music. Value Added Talk is a production of TMF Group.

S1 04 Tax headaches you wish you knew about before selling online

Featuring extra data, TMF Group’s Accounting and Tax Report takes a deeper dive into the findings of the Global Business Complexity Index 2019, which examines the risks and opportunities of doing business in 76 jurisdictions around the world. In this third episode of the Value Added Talk podcast, Jacek, Sylvia and Rob explore the key tax trends highlighted in the report and discuss the practical impact these will have on future business operations. Short on time? Skip ahead: 00:01 Intro 01:24 On today’s episode 03:48 Tax digitisation – a brief overview 07:14 Harmonisation trends 13:07 The changing relationship between authorities and businesses 21:54 What’s shaping evolving tax policy 28:33 The VAT Gap and moves to combat tax fraud 32:42 Key takeaways 36:31 Tax breaks for ‘exceptional’ trees in Hawaii 39:57 Outro Have a question for the show? Get in touch: Podcast@tmf-group.com If you'd like to support the podcast, please hit 'subscribe' on Apple Podcasts or 'follow' on Spotify - and consider leaving us a review. CREDITS Your hosts are Jacek Szufan, Sylvia Petkova and Rob Hutchinson Producer: Carlie Bonavia Theme music: Roulette Wheel by JAM Studio, purchased from Shutterstock Music. Value Added Talk is a production of TMF Group.

S1 03 Four accounting and tax trends you need to know about

Digitisation has been a hot topic in the tax world in 2019 and it will continue to be, as tax authorities push for real-time reporting and more detailed transactional data from taxpayers. Digital developments require businesses to adapt their systems and introduce new processes to comply but it’s not necessarily all headaches and additional costs; more automated tax reporting can be a positive shift particularly for cross-border operations. Is your company prepared for the technology change? TMF Group head of accounting and tax Emine Constantin joins Jacek, Sylvia and Rob in this episode. Have a question for the team? Get in touch: Podcast@tmf-group.com Short on time? Skip ahead: 00:01 Intro 04:15 What’s trending in tax digitisation? 08:28 Why is digital tax reporting coming into vogue? 10:44 Local compliance challenges 12:50 Technology – an enabler for tax authorities or businesses? 17:58 The Standard Audit File for Tax – or is it? 19:30 The data challenge 22:18 The need for local tax knowledge and support 24:07 How the UK handled the introduction of Making Tax Digital 34:21 Key takeaways 37:03 Outro Learn about accounting and tax challenges in 76 jurisdictions – download the Global Business Complexity Index 2019. If you'd like to support the show, please hit 'subscribe' on Apple Podcasts or 'follow' on Spotify - and consider leaving us a review. CREDITS Your hosts are Jacek Szufan, Sylvia Petkova and Rob Hutchinson Producer: Carlie Bonavia Theme music: Roulette Wheel by JAM Studio, purchased from Shutterstock Music. Value Added Talk is a production of TMF Group.

S1 02 Digitisation is taking over the tax world – are you ready?

Global tax analysis and tips for businesses of all sizes, from small startups to large multinationals.