Outsourced operations facing VAT timebomb
Insurance companies who outsource part or all of their back office operations could be faced with a substantial tax bill, if an advisory opinion given yesterday (12 Jan 2005) to the European Court of Justice is upheld.
The ruling could also have a detrimental effect on outsourcing providers as insurance companies rethink their options.Tax advisers at KPMG believe that if the Advocate General’s opinion in the case
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