Excise is known as the “Sin Tax” as it focuses on alcohol, tobacco and oils. Many excise products are sensitive to abuse or fraud within the system leading to onerous bureaucracy and red tape in the production, storage and movement of the good. Often paying the excise is the least of a company’s worries as processes and controls lead to burdensome administrative requirements and the potential for penalties and the imposition of punitive trading conditions is high.
After understanding how a business operates from an excise perspective Philip can offer you the following services:
• Ensuring compliance for excise businesses by reviewing and drafting processes and controls
• Training staff in excise businesses
• Negotiating with local Government revenue authorities on decisions made that impact a business
• Advising on supply chain management (including samples which is a complex area)
• For alcohol – advising global innovation teams on the tax implications of liquids
• Drafting contract clauses with procurement/Legal in relation to excise risks with third parties
• Advising Legal departments on excise risk in relation to legal requirements and case precedent
• Advising on excise compliance in relation to mergers and acquisitions and leading due diligence,•advising Corporate Relations on excise strategy, identifying lobbying areas and efficiency savings,•lobbying for best practice principles in developing countries
• Tax reform in developing countries, and•advising IT software analysts of excise issues that require consideration and implementation within a tax software programme.