SAP Global Tax Management
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Global Tax Management: An Overview and Key Considerations
What is Global Tax Management
Global tax management is the process by which tax managers evaluate the global taxability of an organization’s industry, corporate structure, business model, operations, products or services, business activities, and daily transactions.
To ensure global tax reporting requirements are met accurately and consistently by all subsidiaries across multiple tax jurisdictions, global tax management requires a holistic view of an organization’s entire flow of transactional data across its entire value chain.
Global tax management brings together disparate technologies from multiple vendors, such as SAP, Vertex, Sovos, Avalara, Thomson Reuters, and different currencies and various regulators, contributing to complexity across the tax function.
Global Tax Management: An Overview and Key Considerations
What is Global Tax Management
Global tax management is the process by which tax managers evaluate the global taxability of an organization’s industry, corporate structure, business model, operations, products or services, business activities, and daily transactions.
To ensure global tax reporting requirements are met accurately and consistently by all subsidiaries across multiple tax jurisdictions, global tax management requires a holistic view of an organization’s entire flow of transactional data across its entire value chain.
Global tax management brings together disparate technologies from multiple vendors, such as SAP, Vertex, Sovos, Avalara, Thomson Reuters, and different currencies and various regulators, contributing to complexity across the tax function.
For many organizations, global tax management typically involves these three steps:
- Define compliance needs worldwide across all operating units, lines of business, tax jurisdictions.
- Map businesss processes to govern how compliance should flow through the organization globally.
- Implement technology solutions that can accurately collect information and content updates from disparate sources in alignment with defined business processes to deliver master data and financial information asynchronously as required.
Key Considerations for SAPinsiders
Understand the growing complexity of global tax management. Organizations considering different areas of the world for new potential opportunities must be aware of how these business interests can affect the local country’s taxation. Changing legislation and mandates around global tax management is becoming ever more complex as organizations face growing challenges in evaluating how their growth initiatives may impact global tax liabilities.
Evaluate your content needs for effective global tax compliance. Tax managers need to consider what global activities may be taxed in which locations and ensure that they are meeting the tax requirements of each country accurately and promptly. Greater global tax compliance efficiency can help organizations reallocate accounting resources to support revenue-generating tax compliance opportunities.
Implement technology to simplify global tax management needs. The Ingram Micro and Dow Chemicals case studies provide best practices outlining how technology makes it possible to create a global view of the enterprise, enabling tax function managers responsible for global compliance, global reporting, and global controls. Content updates that provide real-time data on tax jurisdictions, tax rates, and tax content changes are critical for efficient global tax compliance.
107 results
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- SAP Global Tax Management
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SAP S/4HANA: What Are the Tax Implications?
Organizations face tremendous pressure to operate with more agility and speed to survive the current business climate. In response, many companies are making investments into intelligent technology systems to help reduce complexity and deliver valuable insights. SAP S/4HANA leverages technology that allows for enhanced data management and can provide the foundation for transforming to your digital tax strategy. After attending this session, you will: • Understand tax management and tax compliance on…
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Trends in Tax Benchmark Webinar
November 12, 2021
In This Webinar: Today’s tax compliance landscape has never been more challenging. As global e-commerce transactions continue to grow and organizations integrate digital business activities with their existing operations and ERP systems, the end-to-end indirect tax process is becoming more complex and costly to manage. This complexity increases when supply chains extend across borders, as…
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Trends in Tax Benchmark Report
Reading time: 1 mins
In This Report: Today’s tax compliance landscape has never been more challenging. As global e-commerce transactions continue to grow and organizations integrate digital business activities with their existing operations and ERP systems, the end-to-end indirect tax process is becoming more complex and costly to manage. This complexity increases when supply chains extend across borders, as…...…
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Cloud-based Indirect Tax Saves Ingram Micro Time and Money
Reading time: 8 mins
As international trade grows, so too does the weight of indirect taxation on the business landscape. There is also a growing urgency for tax departments to enhance business value through digital transformation. Changes in indirect tax can come frequently, according to Calvin Lai, Senior Manager at Ingram Micro Tax. This means that ensuring indirect tax…
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Global Tax Automation for Your Enterprise
Reading time: 8 mins
Tax authorities around the world are pushing for real-time access to information and rules and tax rates change constantly. Roger Lindelauf, Director, Global SAP Partnership at Vertex, predicts that in the next two or three years, we will continue to see a lot of countries, such as in EMEA, move to e-audits, e-filings, and e-invoicing. “We are changing from information being pushed to…
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- SAP Global Tax Management
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Building the Intelligent Tax Function on SAP: Developing a Compelling Business Case
Developing a robust business case is a key foundation of a successful SAP S/4HANA program. Finance functions are under significant pressure to deliver enhanced business insight and reduce costs - leveraging an S/4 investment is therefore a major component to the overall program business case. However, many companies are missing a critical component – consideration…
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How does Edge Computing Unlock New Opportunities for Your Organization?
October 12, 2021
Advances in technology, through automated, cloud-based solutions, have liberated tax, IT, and finance professionals from a multitude of software related, administrative tasks. Tasks like monitoring, coding, testing, and re-deploying changes to software, any time an update is made, taking valuable time away from needed resources. While cloud-based solutions host a variety of advantages, there are…
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- SAP Global Tax Management
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Vertex Case Study with Ingram Micro
Ingram Micro, a distributor of information technology products and services, has been relying on SAP and Vertex solutions to meet its unique business and tax department needs. Ingram Micro implemented Vertex O Series On-Demand for North America several years ago and since then, has worked towards deploying Vertex for their tax process automation globally. The…...…
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- SAP Global Tax Management
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Why the Modern Tax Team Should Have a Seat at the Table
The post-pandemic business landscape demands CFOs, and their tax teams evolve beyond routine tax functions, to deliver strategic value for their organizations. Globalization, digitalization, and sustainability are accelerating and requires organizations and government entities to engage continuously. C-suite decision makers now must lean on tax leaders to help comprehend the business impact of these engagements.…
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- SAP Global Tax Management
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Top Indirect Tax Compliance Considerations for Modern Businesses Running on SAP
There is a critical component to running a business, one that changes all the time – country, state, and jurisdictional tax rates, rules, and statutes. These time-consuming, non-revenue generation tasks keep businesses from focusing on growth and profitability. With the right automated tax solution, your team can focus on the path to modernization and gain…
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