International accountancy group PricewaterhouseCoopers has launched a website to help businesses around the world get to grips with foreign VAT regulations. The online VAT service, www.globalvatonline.com, provides free daily news summaries on the latest global developments with respect to VAT, together with information on VAT events and access to around 1000 advisers from the PricewaterhouseCoopers' global VAT team.
The website also offers a subscription service for finance directors and tax professionals needing more in-depth information and analysis of overseas VAT regulations. The subscription service has details on VAT rules and rates in over 70 countries, including all the world's major trading nations, together with live links to worldwide VAT authority websites. The cost is $2,000 for an individual; more for a company.
Director of GlobalVatOnLine, Patrick Walker, commented on the new Internet service: 'Our aim was to collect key VAT data from around the world and present it in one place in an easily accessible manner. Over 120 countries now have a VAT system and the number continues to rise.'
He continued: 'VAT regimes in the world are very different and highly complex. Even in Europe, where VAT is well-established, we are years away from harmonised rules. GlobalVatOnLine will be an essential reference tool for companies trading around the world.'
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