A Tax Professionals Playbook for European Cross Border Expansion
In today’s global economy, expanding outside of your country is a crucial step for businesses seeking long-term growth and success. Each new country your business enters has untapped potential and a larger customer base, which in turn can lead to increased market share and revenue. However, it’s crucial to understand that with European expansion also comes a heightened level of complexity and associated risks, primarily related to cross-border tax compliance. To help your tax and finance departments feel confident you can tackle your new global tax compliance requirements, we suggest you take four steps including:
- Become familiar with the VAT aspects of European cross-border commerce.
- Define your offerings and channel growth goals.
- Consolidate VAT across your technology stack.
- Optimise your tax team’s structure.
Keep reading to learn more about these steps as well as how tax automation can support your expansion initiatives.
