Activating Plants Abroad in SAP
Key Takeaways
⇨ Download this PDF to learn how to activate Plants Abroad in SAP
⇨ This PDF will explain the main benefits of activating Plants Abroad in SAP
⇨ See how the Meridian VAT Add-on can mitigate shortfalls in Plants Abroad in SAP
Plants Abroad functionality within SAP is a helpful addition in scenarios where a single company code has multiple VAT registrations across the European Union (EU). Plants Abroad functionality enables automated VAT and INTRASTAT postings for ‘cross-border movements of own goods and also some additional reporting requirements related to cross border VAT registrations.
Although Plants Abroad functionality does not overcome any of the complexities in tax determination (which is a common misconception), it brings about a number of benefits associated with VAT reporting and exchange rate functionality.
Standard SAP does not contain sufficient logic to automate tax determination for businesses with complex VAT flows. This exposes a company to tax compliance risk as a result of systemic weaknesses and manual workaround procedures. This also leads to excessive finance process costs and SAP system maintenance costs.
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Meridian’s VAT Add-on global tax automation solves all known limitations and shortcomings concerning VAT determination in SAP. Including the Meridian VAT Add-on manages all complex VAT issues within SAP and ensures that your SAP system delivers tax-ready data. Once implemented, all complex VAT decisions on sales and purchases are automated and no manual intervention is required. Modular solutions mean that customers can select required modules. Implementation and maintenance are simple with the central VAT Cockpit.
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