Webinar: Global Tax Management 2023 - Benchmark Report

99 results

  1. VAT Changes Coming in 2010: Are You Ready?

    Because of the continuous extension of the European Union (EU) and the lack of alignment of local Value Added Tax (VAT) rules, VAT-related fraud is increasing and has resulted in unequal competition among suppliers in different countries. To reduce fraud and give suppliers equal treatment regardless of their country, VAT rules for services between EU…...…

  2. Handle Partially Reclaimable VAT with Pro-Rata VAT Functionality in Your SAP System

    Many organizations in the EU use Value Added Tax (VAT) on certain sales. However, not all sales allow VAT charges. If you’re a company providing products that are both VAT-eligible and VAT-ineligible, how do you account for this in your system? See how to set up and customize pro-rata VAT in your SAP system. Key…...…

  3. Set Up Tax Codes to Properly Report Deferred VAT

    Deferred Value Added Tax (VAT) is a special VAT that you only need when reporting to the tax authorities after the related invoice has been paid. See how to do this in the SAP system by linking a special target VAT code to a deferred VAT code. Key Concept Value Added Tax (VAT) is a…...…

  4. The VAT Rate Changes: A Checklist

    Reading time: 17 mins

    Every now and then existing VAT rates are changed. Therefore, from a certain point in time a new percentage is to be applied for a VAT code. For example, in the Netherlands in October 2012 the high rate changed from 19 percent to 21 percent. Use this checklist of the most common activities you need…...…

  5. Prepare Your SAP System for Electronic VAT Declaration

    More and more countries in the EU are allowing electronic declaration of Value Added Tax (VAT) reports. See the configuration and technical settings you can implement in your SAP system to enable you to electronically submit VAT to tax authorities. Key Concept Within SAP systems, the most common method for the VAT declaration is VAT…...…

  6. Adjust Your SAP System to Keep Up with Changes in VAT

    The European Union’s efforts to prevent tax fraud have led to a change in its value added tax (VAT) — the reverse charge VAT. Key Concept Value Added Tax (VAT) is a common tax system in the EU. Tax authorities are revamping the system to combat fraud. The original principles used for local VAT are…...…

  7. A Step-by-Step Process to Handle VAT on Import Purchases

    Walk through the steps one company took in SAP logistics to properly apply value-added tax on import purchases, thus avoiding complex configuration. Key Concept Value-added tax (VAT) is form of consumption tax that is applicable on the purchase price of a material. In some countries, when a company procures goods from a foreign vendor, you…...…

  8. Use SAP Acquisition Tax Accrual to Meet VAT Declaration Requirements

    In a few European Union (EU) countries, companies receiving goods without an invoice receipt must make an acquisition tax accrual and include it in a value-added tax (VAT) declaration to be able to comply with legal reporting requirements. The goods must have been shipped from other EU countries. Discover how SAP’s acquisition tax accrual functionality…...…

  9. Use SAP’s Enhanced BKPF Table for VAT Liability-Based Reporting

    Learn how to prepare reports based on value-added tax (VAT) liability dates to comply with European legal requirements. Key Concept In the standard SAP system the value-added tax (VAT) reporting is based on the posting date. By using the document date as a selection criterion, you can report on a document date. However, for some…...…

  10. Solution Brief: Arco Tax Determination for SAP BTP Helps Streamline VAT Compliance

    According to SAPinsider’s 2023 Global Tax Management benchmark report, 80% of these teams recognize the critical need for automated reconciliation of various indirect tax reports to strengthen their global tax management strategy. Additionally, 75% of organizations say they must enhance the accuracy of their real-time indirect tax determinations. For businesses operating in Europe, automating these…