Realizing it all

foto taxmarc 2

Our features realize automated VAT determination based on real time data for incoming and outgoing invoices even for the most complex transactions. Because the decision tree of Taxmarc™ is integrated in SAP as part of the Tax Control Framework, SAP is also enhanced with automated VAT controls.

The consistency of the combination of the VAT data is evaluated on actual transactional data. This enables Taxmarc™ to identify real-time when certain transactions are not possible, for instance because a local VAT registration is missing. The integrated SAP controls can either block transactions or store these in an emergency table when considered VAT non compliant. Blocked transactions can be released by the responsible tax person.

Each purchase and sale is checked by an integrated tax control framework that contains up to 75 messages. Each message provides information on why a transaction is accepted or not and is therefore of great management value for the tax function.

Taxmarc™ keeps a logbook – risk register – of all identified inconsistencies. The internal tax function has always insight into the areas for attention through this logbook. This allows tax managers to set the right priorities and take measures timely.

All features are easily managed via the Taxmarc™ cockpit. Through the enhanced condition technique for both sales and purchases – using a maximum of 250 condition records – and features such as time stamped tax codes, automated VIES validation and automated Intrastat reporting functionality, we realize optimum workforce efficiency, low maintenance costs and effective VAT risk management. It contributes to strengthening the relationship with the tax authorities.

Our integrated data analytics feature provides real time insight into the company’s operational business model without any need of manual transaction mapping. The impact of business changes can be determined via simulation with the use of real time data (e.g. cash flow planning).

We have developed a time stamped tax code feature by which a company never runs out of tax codes. The integrated VIES validation feature allows a company to validate VAT numbers in SAP via a batch with the VIES database at any time.

The best way to show where we really provide added value is to answer the next questions:

  • Who can automate the VAT determination in SAP for all incoming and outgoing invoices including most VAT complex transactions on real time data without hardcoding?
  • Who can deliver an integrated tax control framework that monitors all your transactional data in SAP?
  • Who can blueprint your organization immediately without run-time issues?
  • Who facilitates planning also beyond indirect tax without guessing the numbers?
  • Who can make your tax code design permanent and realize that you never run out of tax codes?
  • Who can restructure your tax codes without doing a System Landscape Optimization?
  • Who can run your sales transactions with a maximum of 250 condition records per tax reporting country?
  • Who can realize automated VAT and Intrastat reporting without any manual intervention?
  • Who has their features in production for many years at multinationals?
  • Who has been tested by the Big4?
  • Who has the solution presented to the tax authorities as part of OECD’s enhanced relationships?
  • Who has the solution operational in Europe (30+), Asia (7), African/Middle East (4), Latin America (5) and North America (1)?
  • Who can do this within SAP via a SAP add-on solution: no interface or external software?
  • Who can realize this all with a maximum of only 4 extra customized SAP tables to get our SAP add-on solution(s) up and running?

Taxmarc™ has realized this all.

Schermafbeelding 2014-11-08 om 22.55.38


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About Richard Cornelisse

I advise multinational businesses in improving the efficiency and effectiveness of their Indirect Tax Function and Tax Control Framework. I started my career as a manager at Arthur Andersen and then became a partner in EY where I led the indirect tax performance team for Netherlands and Belgium. Currently I am a senior managing director of Phenix Consulting. I have over 20 years’ experience advising clients on international VAT issues. I am specialized in the tax aspects of financial transformations, shared service centre migration, and post merger integration work. I am also somewhat of a mentor, giving back to the profession. If you are interested in conversation and discussion, please feel free to contact me.
This entry was posted in Automating complex VAT flows in SAP, Control Framework, enhancement implementation, SAP add on, SAP enhancement point, SAP for VAT, SAP implementation, user exit, VAT automation, VAT Control and tagged , , , , , , , , , , . Bookmark the permalink.

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