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Besides supporting our clients with their issues, PwC also raises awareness and contributes to a better understanding of REACH. As early as 2007 PwC conducted a global survey to gauge readiness and reaction to REACH. For ‘Waking up to REACH’ we interviewed 241 senior executives across six industries in 29 countries. Our most recent REACH publication explains the complexity of cost sharing under REACH.
PwC contributes to the development of good working practices for stakeholders in the REACH arena. We regularly share our experience and professional opinion through the publication of expert focus articles in Chemical Watch.
Below, you will find an overview of our publications and articles:
- VAT challenges for REACH (January 2014): The 2010 VAT package affects businesses providing or receiving services (both to/from third parties, as well as inter-company) in a cross border context. In the last couple of years, we noticed that our clients can struggle with the correct processing of VAT requirements for their REACH activities. The main changes concerned the introduction of new rules for determining the place where services are liable to VAT; and increased VAT reporting requirements. However, the 2010 VAT package made an exception for Belgium law firms, which remained exempt from any VAT duty. But from 1 January 2014, this exemption will end as well, resulting in VAT changes which will be significant for REACH cost sharing within consortia and Siefs. This article explains what this VAT change means, and describes our experiences in the last few years on how it affects common REACH cost-sharing practices in Siefs and consortia. Lees verder
- 2013 SIEFs need to use more transparent administration (December 2011): The complexity of cost sharing under REACH hides various challenges and risks. Tax issues, discussions on cost sharing and allocation principles and data ownership issues are all delaying the settlement of cost sharing for the 2010 joint submission dossiers. As a result, companies are reluctant to nominate themselves as lead registrants for 2013. PwC says the solution is more standardized administration initiated by the lead registrant. Read more
- VAT Challenges for REACH cost sharing (March 2010): Companies preparing the transactions for cost sharing in relation to joint submissions and data sharing for REACH registrations this year need to consider the 2010 VAT package. PwC explains how the 2010 VAT package affects data sharing practice. Read more
- Managing transaction risks in REACH Joint Submissions (December 2009): The cost sharing obligations of the REACH regulation are potentially a generator of compensation revenues, at least for pro-active companies, assuming they receive fair compensation from other members of substance information exchange fora (SIEFs). But lead registrants (LRs) and other SIEF members also need to be aware of the transaction risks involved. PwC shares its insights. Read more
- REACH consortia need financial safety nets (February 2009): Swings in company fortunes during the unprecedented economic downturn are increasing the challenges for those managing REACH consortia. PwC offers advice on how to safeguard consortia from potential financial losses. Read more
- Waking up to REACH (January 2008): Despite a November 30 deadline for taking steps to comply, PwC’s survey shows awareness of REACH is low, especially outside Europe and the chemicals industry. Failure to meet the terms of this European regulation could lead to a ban on exports to the EU and is a growing concern to EU-based companies. Read more