UK and Ireland businesses more likely to struggle with indirect tax compliance, survey finds

Businesses in the US believe they are outperforming other regions with their current indirect tax capabilities according to research conducted by Vertex Inc.

The survey asked 580 indirect tax decision makers (representing global companies with annual revenue of at least $50m) to categorise themselves according to their indirect tax performance ranging from 'champion’ (best) to ‘crawler’ (worst).

The US took the lead in the champion category with 43% of organisations marking themselves as champions meaning their business is protected and future-proofed with an efficient technology led approach. In contrast UK and Ireland businesses were deemed to be ‘crawlers’ with 72% describing their business as being risk-prone to managing indirect tax compliance.

Peter Boerhof senior director of VAT for Vertex’s chief tax office said: ‘When looking at the regional differences it’s clear that the champion regions have adopted tax technology to help address current challenges...