The Impact of VAT on Family-Run Businesses



Family-run businesses face significant challenges and need to assess their strategy carefully regardless of the industry segment they operate in. The increased compliance requirements mean that family-run businesses would need to decide which department would be responsible for VAT and related compliance. It may be the right moment to assess the duties and responsibilities of a family office in this regard, if already in place, or assess the feasibility of the set-up of a family office as part of the family’s wealth strategy.

EY and Thomson Reuters have partnered to discuss the impact of VAT on family-run businesses, the various opportunities and challenges that businesses may face, and how best to tackle these obstacles to be prepared for VAT implementation.
 
If you have any queries, or would like to speak to a Thomson Reuters representative, click here to contact us.
Complete the form below to get your copy today