If the aim of your organization is full VAT automation of AP and AR, it is important to have a clear understanding of your material risks at hand, and your lowest performing processes in order to define the functional specifications for a solution.
Innovation and tax audits
- Details
- Hits: 6815
Tax authorities, due to technological innovations, have become increasingly better in executing their tax audit.
Verify SAP VAT configuration
- Details
- Hits: 6906
Verify VAT configuration A SAP review should highlight where the VAT configuration could be improved or if additional control measures should be added to the business’s Tax Control Framework.
Roadmap to implement VAT in SAP
- Details
- Hits: 7705
For nearly every company, the accuracy and efficiency of local VAT compliance is completely dependent on the functionality of the underlying SAP system. Any incorrect set-up of the basic VAT configuration of their SAP systems can severely impact it’s processing.
High level overview of EU VAT system
- Details
- Hits: 5296
A high level overview is provided of the EU VAT system: what is subject to VAT and the right and methods of VAT recoverability. It includes also a comparison with the US Sales and Use Taxes system.
