KPMG LLP invites you to join us for a discussion on global supply chain structuring considerations in the life science industry from an indirect tax perspective. Over 170 countries have a value added tax (VAT), also known in certain countries as goods and services tax (GST). As a result, many U.S companies interact with countries that impose a VAT, which can trigger unplanned tax implications.
Whether they are in the pre-clinical or clinical stage or have progressed through to the commercialization of their products, companies in the life science industry are often involved in multijurisdictional activities with many VAT touchpoints. Activities such as foreign manufacturing, packaging and labelling, serialization, the conducting of clinical trials, and distributing and selling the finished product can all give rise to VAT implications which, if not managed correctly, may result in VAT costs. Further, these complex supply chains often involve products moving across multiple country borders, giving rise to trade and customs considerations, such as import duties and taxes, customs valuation, and classification issues, which also should be proactively addressed.
During this webcast, KPMG Tax professionals who focus on global indirect taxes will address:
- Key global VAT/GST and trade and customs considerations for life science companies.
- How these indirect taxes impact the development, manufacturing, and distribution stages of a product.
- Indirect tax opportunities for US-based life science companies
Who should attend?
U.S. life science businesses conducting foreign clinical trials, leveraging foreign contract or toll manufacturers, or operating through foreign distribution arrangements.