Value Added Talk

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: [email protected] 

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.

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: [email protected] 

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.

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: [email protected]

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.

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: [email protected]

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.

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: [email protected]

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.

Around four per cent of global travel spend offers reclaimable VAT but many companies don’t bother claiming back the VAT that they’ve incurred in the course of doing business abroad.

Click here to download your ‘free’ money FAQ sheet.

Yes the VAT recovery process can be admin-heavy, but the time spent analysing the data in your systems and maybe even digging through a deep, dark basement to locate eligible receipts can be quite lucrative. How does a seven-figure cash injection sound?

In this 'free' money episode, Jacek, Sylvia and Rob discuss the VAT recovery process and how much of a boost it can give to your bottom line.

Have a question for the show? Get in touch: [email protected]

Short on time? Skip ahead:

00:01 Intro

01:45 What do we mean by ‘free' money?

03:22 What is VAT Recovery – and what is recoverable?

16:17 How to identify recoverable VAT

20:16 How to recover the VAT

22:49 Specific claim periods and deadlines

23:43 Potential obstacles

30:35 Key takeaways

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.

Jacek, Sylvia and Rob provide analysis of the latest global tax changes and tips to help improve your finance function and boost your cashflow.

Value Added Talk launches in October 2019. Subscribe and stay tuned!

Proudly brought to you by TMF Group: www.tmf-group.com

Get the latest episodes in your inbox: bit.ly/TMFeAlert

Hosts: Jacek Szufan, Sylvia Petkova, Rob Hutchinson

Producer: Carlie Bonavia

Music: Roulette Wheel by JAM Studio, purchased from Shutterstock Music.