How Baker Tilly brought the benefits of central co-ordination to global operations
Our client is a large pharmaceutical company headquartered in the US. Performing clinical studies across the world, the client needs to ship materials and products from the US to the sites where the clinical trials take place. This movement of goods leads to multiple VAT and customs obligations for the client.
A key element of the clinical trials is that no fees are paid by the clinics and the hospitals. Despite this, the client needs to be on top of their compliance requirements in each jurisdiction in which they are running a trial.
Central co-ordination
When our multi-jurisdictional team got in touch with the client it was clear that central co-ordination was key to helping them deal with their current situation and help them plan ahead.
The client wanted to be able to explain the often complex transactions only once, and hand data over to individual contacts after that data had been centrally processed.
Our team mapped out the VAT and customs position of the client’s global activities, identified custom compliance obligations and presented plans on how to stay compliant in the future.
Mitigating risks
Faced with a backlog of compliance obligations, the risk of breaching reporting requirements in every country loomed large for our client.
With all their information now held centrally, we were able to identify the optimal solution in each country where the client is active, mitigate those risks and ensure the client remains compliant from both a financial and administrative perspective as they continue to grow their operations.
Good advisors have offices in every territory. Great advisors have people who work across them.
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