Overcoming the Complexity of European Union VAT

Businesses expanding into the EU often encounter an unpleasant surprise when it comes time to account for value-added tax (VAT). Although 19 of the 27 member states share a common currency, VAT, rules remain highly localized and specific. Frequently changing country-by-country reporting rules have added to the complexity.

“There is a clear shift going on from ‘after the event’ audits to tax administrations auditing and collecting in real-time, based on granular electronic transactional data,” says Peter Boerhof, VAT Director at Vertex. “This also results in less reliance on manually created tax reports by the business.” 

For SAP customers an automated technology solution that is fully compatible and certified with the SAP ERP suite can help alleviate many of challenges caused by these shifts. Read this whitepaper to learn more.