(SCOTTSDALE, ARIZ., November 9, 2005) – CCH, a Wolters Kluwer business and a leading provider of tax, accounting and productivity software and services, has been named the exclusive North American distributor of GlobalVATOnline (GVO) from PricewaterhouseCoopers (PwC). GVO is a unique, easy-to-use online global value added tax (VAT) research and news product, created and maintained by PwC in-country VAT and indirect tax specialists.
“In many countries, VAT is the tax that businesses need to keep on top of the most,” said Catherine Wolfe, Vice President, CCH Tax and Accounting Publishing. “The rules and rates are complex and change frequently. That’s why we’re thrilled that by partnering with PricewaterhouseCoopers we can offer our subscribers a product backed by the expertise of PwC specialists around the world.”
“We’re excited to have CCH as a partner to make GlobalVATOnline more available to professionals throughout North America,” said Patrick Walker, a partner in PwC, Head of the Indirect Tax Practice in the UK and CEO of GlobalVATOnline. “Subscribers look to CCH for authoritative, up-to-date answers that speed their workflows, and that’s just what we provide in GVO.”
An Essential for Businesses Engaging in International Transactions
Most countries have a VAT or similar tax that is imposed on businesses that engage in business transactions (including online transactions) or provide services in their countries.
This makes GVO an absolute essential for tax practitioners, corporate compliance officers and others who represent or support firms engaged in international transactions. GVO provides quick answers to VAT questions, VAT rates and the latest VAT news for over 70 countries (including all 25 EU member countries), to customers who need to comply with these complex and frequently revised taxes. Failure to manage indirect taxes properly can result in compliance problems, which may expose the company to increased risks and costs – a particular concern given the impact of legislation such as the Sarbanes-Oxley Act and similar regulatory provisions around the world.
VAT Answers at Your Fingertips
GVO’s “GlobeSearch” feature allows users to obtain answers to their VAT questions as easily as picking items from a menu. With GlobeSearch, customers can search one or more countries on one or more topics at a time. So, for example, a professional could perform a search for all EU countries on VAT rates and non-resident business registration requirements. Results are provided in chart format (similar to CCH Smart Charts) so that users can easily make comparisons between the results for each of the countries being searched.
The topics that may be searched are:
- Historic data;
- Identification number format;
- VAT authority;
- VAT rates and application;
- Deduction of VAT;
- Registration for resident businesses;
- Registration for non-resident businesses;
- Registration due to intra-Community transactions;
- Refund of VAT to non-resident businesses;
- VAT return and payment of VAT;
- Record keeping;
- Invoicing requirements;
- Reverse charge/Fiscal representation; and
- Other indirect taxes.
“The organization of country VAT information on these topics follows our customers’ workflow so that they can obtain immediate answers to their questions,” Wolfe noted.
News, Links and More
GVO also provides up-to-date news on important developments affecting indirect taxes. PwC VAT specialists in each of the countries report on key developments as they occur. Each news article includes a brief summary followed by a full-length explanation and analysis, and is normally published within 24 hours. Articles are listed in date order, but they may be searched by country, topic or specific words and phrases. Links are usually provided to the full text of the primary source document to which the news item relates. The news articles cover important developments such as legislative changes, court rulings and decisions of the tax authorities.
In addition, subscribers receive a weekly newsletter summarizing important VAT (and other indirect tax) developments that occurred over the previous week. In addition, periodic tax analysis articles are prepared by PwC’s VAT specialists on topics of current interest to VAT and other indirect tax practitioners.
Links are included to important VAT and indirect tax web sites. These include a number of government and quasi-government sites that contain the full text of legislation, court cases, VAT Directives and other primary source documents.
PwC VAT specialists are listed by country (name, e-mail address, phone and fax numbers) as contacts for further details, including answers to specific questions on country information and rates included in GVO, or indeed on any other indirect tax-related matters.
GVO also includes details of the conferences, seminars and training courses on important VAT and other indirect tax topics conducted by PwC specialists at various locations throughout the world. Course materials for many events are made available to subscribers. PwC-authored VAT publications are also listed and may be ordered directly from PwC.
Invoicing and Archiving Tables
Subscribers to GVO can access tables covering invoicing and archiving in the EU. The entries illustrate the extent to which EU member countries have standardized their requirements for VAT invoicing. The information provided covers the content of invoices, self-billing, electronic storage of invoices and e-invoicing.
“Being able to see this information at a glance, rather than having to dig it out piece by piece is a terrific time-saver for subscribers, thanks to the expertise of PwC,” Wolfe said.
Availability and Pricing
For more information, or to subscribe to GlobalVATOnline, please call a CCH sales representative at 1-888-CCH-REPS (1-888-224-7377) or visit Tax.CCHGroup.com. A one-year subscription is $1,200.
PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance, tax and advisory services for public and private clients. More than 130,000 people in 148 countriesconnect their thinking, experience and solutions to build public trust and enhance value for clients and their stakeholders. PricewaterhouseCoopers refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate legal entity.
About CCH, a Wolters Kluwer business
CCH, a Wolters Kluwer business (tax.cchgroup.com) is a leading provider of tax, audit and accounting information, software and services. It has served tax, accounting and business professionals and their clients since 1913. Among its market-leading products are The ProSystem fx® Office, CCH® Tax Research NetWork™, Accounting Research Manager™ and the U.S. Master Tax Guide®. CCH is based in Riverwoods, Ill.
Wolters Kluwer is a leading multinational publisher and information services company. Wolters Kluwer has annual revenues (2004) of €3.3 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands (www.wolterskluwer.com). Its depositary receipts of shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.