Automate processes,
optimise management and save time
Features
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Identify the standard transactions performed by the company in its international operations and determine the VAT implications of these transactions in the different countries involved.
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Identify the company’s control procedures and routines in order to guarantee:
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The completeness, accuracy and accessibility of the data required to ensure compliance with its VAT obligations.
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The adequacy of the supporting documentation.
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The consistency of the declared data for jurisdictional purposes and for the effects of related entities.
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Automation of the company’s indirect taxation management
Correct parametrisation of the company’s ERP will facilitate greater automation of the management of any indirect national and international taxation obligations derived from its operations.
Service details
In such cases, the adequate management of a wide range of formal obligations within different jurisdictions can prove rather challenging, and in the majority of cases companies will end up resorting to all or some of the following options:
Requesting support from external professionals in their dealings with some or all of the jurisdictions involved, often opting to outsource compliance with their global tax obligations.
Increasing the level of automation of their global VAT obligation management routines. This task may be performed by the company’s internal IT department, ideally in conjunction with specialised professionals, and it may be necessary for companies to:
- Improve their own information system (ERP), through:
- Improving their ERP parametrisation,
- Developing native solutions,
- Implementing the existing bolt-on solutions in the market.
- Resort to non-native external solutions for the automation of VAT obligations (so-called “tax engines”).
It is important that the company is aware that, given the high number of variables involved in this process, successfully using any of the aforementioned options to improve the level of automation of the management of its VAT obligations will be hard to achieve without the support of a multidisciplinary team of specialised external professionals; this team can help its internal IT department, not only with the VAT automation process but also with other tax-related matters affecting the different jurisdictions in which it operates, given their bearing on the automation process.
Our multidisciplinary team, which is formed by a member of our firm specialising in indirect taxation and an expert from our technological partner, the Dutch firm TYTHO, work in conjunction with the company’s IT Department or its external IT service provider to select and implement the chosen VAT automation solution.
My company already has an IT department. How can it benefit from support from IVA Consulta?
The company’s IT specialist should work in conjunction with a specialist VAT advisor who is familiar with the VAT problems that may arise in intra-community and international operations, as this will make it possible to customise the configuration of the information processing system (ERP) to facilitate VAT automation. This will enable them to determine the necessary parameters that must be taken into account in order to ensure correct tax management and control.
Here at IVA Consulta, we have extensive experience collaborating with companies’ IT specialists to correctly implement the parametrisation of the information processing system (ERP), making it possible to automate compliance with VAT obligations both in the EU and internationally. We provide this service in conjunction with our technological partner, TYTHO, a specialist VAT automation company.
Is ERP parametrisation a costly service?
We tailor the scope of our services to our clients’ needs and budgets, and where necessary, the work can be done in stages. The scope of the services will depend on the material to be covered and our level of involvement, which may be limited to supervision and one-off follow up visits, or we can take on responsibility for the whole project if required.
In any case before commencing a project, we will present our service proposal to the client to approve the scope, time frame, work team and fees.
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