Unlock the power of insightful taxation with our SAP Add-on designed specifically for VAT Data Analysis. This tool will empower your business to optimize tax strategies, ensure compliance, and enhance overall financial management. Don’t miss the opportunity to elevate your data analysis capabilities and drive informed decision-making!
Due to technological innovations, tax authorities are becoming increasingly effective in conducting tax audits. The likelihood of these authorities issuing additional assessments and penalties for detected errors in indirect taxes is rising daily. They collect and analyze indirect tax data, such as e-invoicing and SAF-T for VAT. Consequently, taxpayers need tax risk management methods.
KGT's SAP add-on for data analysis stands out because it seamlessly integrates into your SAP environment. It provides instant access to all VAT-relevant transactional data from legal entities operating on the same SAP platform, safely stored in SAP tables under KGT's namespace. This unique feature offers real-time insights into your company's operations, making data analysis straightforward.
As detailed and relevant data becomes available, you can clearly understand key risk factors expressed in actual numbers, eliminating the need for guesswork. You are empowered to take control of KGT's SAP add-on for data analytics. Our 'Continuous Controls Monitoring' tool allows stakeholders to go beyond indirect tax, making them feel valued and integral to the company’s operations.
With KGT's SAP add-on, your company is better equipped to maintain control and act proactively, thus preparing for future VAT risks. This tool enables your resources and external advisors to focus on what matters, assuring that specific risks are manageable.
The module is adaptable, allowing for the integration of client-specific scripts tailored to meet each client’s requirements. KGT has comprehensively tested the module in your peers’ SAP environments before its launch. The SAP add-on data analytics module has played a crucial role in identifying numerous areas for improvement.
KGT addresses the problem by delivering a thorough solution that resolves the underlying issues and effectively manages open tickets. As an SAP tax consultancy firm, KGT can recommend ways to tackle root causes and fix problems using best practices while implementing agreed-upon SAP solutions or supporting your IT department in the implementation process.
It's important to note that just because data is submitted to tax authorities and e-invoices are accepted, it does not guarantee tax compliance. Tax experts should perform regular checks before submission to ensure the VAT reported is correct and complete.
The KGT SAP add-on extracts data and automates tax controls, streamlining the control checks process. This add-on is flexible, allowing the addition of client-specific controls.
The add-on extracts tax information for each billing document, considering factors such as the departure and destination countries, customer and material tax classifications, the MWST condition table used, and the final tax code. It performs its tax determination based on these criteria, following best practices, and compares the results with SAP’s determination, highlighting discrepancies.
One key feature is the “full flow” check in SD billing, which provides an overview of VAT codes applied throughout the invoice chain linked to a sales order from a local sales office. This is useful for analyzing chain transactions among multiple parties and ensuring compliance with local VAT regulations when goods are supplied from European warehouses.
For example, in ABC flows, intercompany partners Party A and Party B can see tax determination results across the entire process: IC outbound (Party A), IC inbound (Party B), and outbound customer invoice (Party B).
Additionally, the cockpit displays all the data required for health checks, including a ‘check result’ dashboard equipped with traffic light indicators.
KGT is an SAP partner for PE services and an SAP Build partner, and to become an SAP partner, strict due diligence requirements must be met, including having certified SAP consultants. You can find us at: https://partnerfinder.sap.com/profile/0001925409
