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Navigating VAT’s Rocky Shoals for IQNavigator
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IQNavigator’s software enables Global 2000 companies to track and manage spendingon outside services such as contract labor, out-sourcing and field services.
Expanding in the European market, IQNavigator established their London office in 2004. Based on a recommendation from their attorneys, they retained The Dyer Partnership to provide a full complement of services including payroll, banking, accounts payable, tax consulting and preparation, business compliance, and government registration.
But Mark Dyer’s consulting went far beyond providing timely filings with the Inland Revenue. He actually helped IQNavigator enhance their software to calculate Value Added Tax rules through much of the European Union.
VAT rates vary from 16% to 25% among the 27 member countries of the EU. IQNavigator’s software consolidates hundreds of contract staff payments into one invoice for payment to the tax authorities. These invoices had to be adapted for VAT rules in a way that was both user-friendly for IQNavigator’s customers and technically feasible for the company’s software development team.
This consulting approach is typical of The Dyer Partnership, assisting their clients with more than routine accounting. They listen carefully, then devise a practical solution that resolves the issues quickly and sensibly so their clients can get on with managing their own business.
The Dyer Partnership has also proven instrumental in managing transitions between executive teams. In 2008 IQNavigator was sold, bringing in new management. Newly appointed CFO, Steve Coburn, had this to say:
“In the recent transition between financial officers Mark was very helpful in providing continuity between the old and new regimes. When I came on board, Mark sat down with me and helped me to understand what needed to be done immediately so that we would not drop the ball on any issues in foreign jurisdiction. His directness about the issues and ability to take ownership of the solutions make him a highly valued member of our team, not just another passive consultant.”
The Dyer Partnership lets IQNavigator successfully focus on with their business in the European market, not worry about their accounting.
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