How to keep up with temporary indirect tax (VAT, GST etc.) changes.
While Pinnacle is supporting Briefing magazine’s current Tiger Teams initiative, it seemed only right to bring our own Tigers together and unleash them to solve a whole range of new challenges thrown up by the pandemic.
The Tiger Team concept was made famous by NASA and the Apollo 13 mission – the forging of a specialised, high-performing, cross-functional team to solve a specific issue. And now there is a likely first issue on the horizon – how to keep up with temporary indirect tax (VAT, GST etc.) changes.
As the world slowly starts to re-open for business, governments are set to evaluate a number of measures to stimulate their economies. A time-limited change in the sales tax regime is already being touted as one option for the UK, following on from the German announcement of a temporary change in the rate and sector classification of indirect tax from July to December 2020 – but any change has big ramifications for law firms, so how best to respond?
Pinnacle’s finance system and document production Tigers have a complete response fully mapped and tested. They can help you implement indirect taxes and any other change necessary, making sure that your 3E/Enterprise configurations are correct, your teams are duly trained (remotely), transactions are correctly recorded in the ledgers, and are then finally presented on your invoice templates.
This is the first of a number of challenges that are already in ‘Tiger territory’ and we’ll be posting regularly on developments.
Contact Paul Holmes for more information on managing indirect sales tax changes firstname.lastname@example.org
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