The manner in which businesses and tax authorities interact is changing. There is an increasing global trend of taxation authorities seeking to collect information from businesses’ ERP solutions and other internal core systems in real-time by electronic means. We look at changing requirements to electronically submit company VAT returns....
Thursday 17 February 2022
The last few years have seen an increase in tax complexity across almost all global markets. VAT determination is an important tax compliance pillar that multinational companies tackle before addressing other priorities. We compare four alternatives that businesses use for SAP VAT determination....
Every sales order in SAP contains four (or more) partner-functions. If left to it's own devices, standard SAP may identify the wrong partner as your legal customer for VAT purposes. This can lead to non-compliance and often goes silently unnoticed until your VAT inspector raises an assessment including penalties....
Meridian's SAP Add-on ensures all VAT determination is accurate and up to date in response to business and legislative changes....
We look at how companies in the process of restructuring should continue to consider VAT automation improvements to their ERP. In most cases risks associated with VAT determination will increase with restructuring, often including headcount losses and change of processes. ...
Some international clients may have a view that their European VAT determination needs can be met by the same tax engine that they use in the US. The US Tax engine’s European capabilities may have been sold strongly by the vendor . However, for many European clients, this may not be the best option . ...
Many multi-national companies operating across the EU make use of the “triangulation simplification”. This removes the burden to VAT register in different Member States into which goods are delivered. EU VAT triangulation rules are not straightforward; yet the legal and practical impact can be significant....
Meridian VAT Add-on 7.55 for SAP S/4HANA has been certified for deployment on SAP S/4HANA 2020 via the SAP integration scenario ABAP Add-On Deployment for SAP S/4HANA. ...
Find out how you can run a control report that will show exactly what manual changes were made to tax relevant fields in an SAP sales order.
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Standard SAP cannot determine the VAT treatment for many types of complex EU transactions in an automated and compliant way. To mitigate this, businesses often develop bespoke access sequences together with a complex set of condition records in order to try and derive a complex VAT decision. ...
