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Practical Solutions to Client Needs: Business Tax Simplification Product

Practical Solutions to Client Needs: Business Tax Simplification Product . Global Tax Simplification Team June 15 th , 2011. Why Simplify Business Taxation?. Our objective: Smart and simple tax administration and processes to lower the cost of doing business.

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Practical Solutions to Client Needs: Business Tax Simplification Product

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  1. Practical Solutions to Client Needs: Business Tax Simplification Product Global Tax Simplification Team June 15th, 2011

  2. Why Simplify Business Taxation? • Our objective: Smart and simple tax administration and processes to lower the cost of doing business • Tax rates and tax administration constantly ranked across regionsamong top 5 major constraints for businesses • Filling the niche: • We bring business perspective • Agenda setters on SME Taxation and Tax Compliance Costs • Collaboration with key players: IMF, World Bank, OECD, ITD • Development and Growth Goals • Create a “culture of taxation” • Regularization of the rule of law • To increase the size of the formal sector • To promote growth • Source: Investment Climate Assessments [all countries, 2002-10] • * Data for "Courts Functioning" only available since 2006. • ** Excludes "corruption", "crime", and "informality“”.

  3. Meeting Client Demand with KM and Operations Tools Workstreams Issues addressed Business tax administration is burdensome (CIT, VAT) Misuse of regulatory fees as revenue tools (esp. sub-national) Small business facing high compliance costs Overly complex, cluttered tax laws & appeals system Excessive and discretionary tax audits Tax competition has led to sub-optimal tax incentive structure Distinguishing between tax evasion and tax avoidance; Transfer pricing • METR Analysis • Tax Admin Process Mapping • Standard Cost Model (SCM) • Compliance Costs Surveys • Inventory of Fees & Charges • Incentives Review • Profit –Margin Analysis • Tax Administration Simplification • Sub-national Taxes & Regulations • Small Business Tax Reform • Tax Legal & Appeals Reform • Risk-based Audit System • Tax Incentives Reform • International Taxation

  4. Central Asia Regional Program • Kyrgyz Republic • Tajikistan • Uzbekistan Nepal Balkans Program India Bangladesh Burkina Faso Nigeria Peru Madagascar DRC Diverse Clients. Tailored Advisory Services Armenia Georgia Vietnam Thailand SierraLeone Lao PDR Kenya Rwanda Tanzania Yemen East African Community Initiative

  5. Some examples on the link with trade, industry specific IC reform, and investment policy • Tax Incentive Reform • Tax incentives remain a key component in any investment, trade promotion strategy in our client countries • Administrative Simplification • VAT (refunds) are is often a key constraint for exporters • Industry specific tax constraints usually require economy-wide solution design • International Taxation • Transfer Pricing and trade: Around 2/3 of the world trade transactions is performed within multinational companies • Transparency • Non-compliance a binding constraint for institutional investors (Central Asia); compliance mgmt is closely linked to trade

  6. Thank you

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