Introduction
I am delighted to present the findings of Deloitte's 2014
'Indirect Tax Survey'; our second survey of indirect tax
professionals to gauge their views on their priorities and the
current indirect tax environment. Like last year, we have had an
excellent response, giving an indication of the growing importance
of indirect tax. The findings reflect both the practicalities and
the challenges faced by practitioners across a wide range of
industries.
In the past year, VAT accounted for 21% of total HMRC receipts.
We are also continuing to see indirect taxes grow in importance as
part of a wider political and social debate. With this increasing
profile for indirect tax comes increased awareness from senior
management and boards. In addition to this higher profile, indirect
tax professionals are required to remain focused on their core
priorities of compliance and improving systems. With the standard
VAT rate now 20%, efficient indirect tax management is, now
