Streamline and automate VAT/GST filing returns and reports to improve compliance and audit performance.
Manually managing the value-added tax (VAT) compliance and reporting process is labor-intensive, error-prone, and costly. Additionally, keeping up with the latest local VAT requirements and meeting reporting timelines for each jurisdiction is challenging, and the effort required to support new business expansion can hinder a company’s agility to respond to market opportunity. More than ever, tax can impact a company's license to operate within its footprint.
Vertex VAT Compliance software enables multi-national corporations to support current operations and future-proof business growth without additional VAT/GST process burden. Vertex offers a cloud-based, centralized multi-country VAT reporting solution, with automation and built-in workflow tools to support periodic compliance reporting, returns generation and timely filing to the jurisdictions.
This application streamlines and automates international VAT/GST compliance to reduce risk of fines and audits, keep the business in line with the latest regulatory changes, improve process efficiency and data quality, and ensure timely submission to the jurisdictions. It also supports the growing digitization mandate around the world, including UK MTD (Making Tax Digital), SAF-T, Spain SII, and Hungary RTR.
Generate signature-ready multi-language VAT/GST returns and reports (including EU Intrastats, ESLs, AP/AR Ledgers, and SAF-T) for 56 countries in Europe, Latin America, Asia, and Africa; VAT e-file formats for 23 countries; UK- MTD requirements (Making Tax Digital); and real-time reporting for Spain and Hungary. New and updated content added monthly. Easily scale to support new countries.
Import transactional data from multiple sources -- ERPs, tax determination engine, or other systems/supporting files -- and map data directly to the relevant jurisdiction-specific returns. Segregate or aggregate reporting obligations by company, entity business unit, and VAT Group. Our flexible system automates dataflow into the correct report/return based on your business structure and compliance strategy. Assign role-based access to functional areas of the compliance environment for improved control across the compliance team.
Automatically retrieve transactional data directly from the source for precise periodic VAT reporting. Source-specific data extractors available to support SAP, Oracle, Microsoft and other systems to automate the tasks of data extraction and mapping to form fields. Easy to install extractors, with one-time setup, built for the systems used by your business, and integrated based on country reporting requirements.
Run automated transactional tax data validations on imported files to enhance data quality and accuracy prior to return prep. Run automated validation of VAT ID numbers (post-transaction) via the VIES website to ensure proof of validation. Run standard report-level quality checks to validate the output prior to filing. Generate reports for a detailed audit trail of all data changes made.
View full transparency and auditability of all VAT/GST data and adjustments through drilldown capability from the return to transaction-level data. Edit or add data prior to filing, with complete version control. Access audit event logs and detailed archives to support audit prep.
Workflow tools, dashboards, and reports allow users and management to visualize and track progress across the end-to-end compliance process — from filing preparation to approvals to submissions. Use automated reconciliation options to conveniently check for data discrepancies at any point in the workflow-compare VAT return data against data from ERPs, ESL report, and Vertex e-Invoicing.
Leverage our fully integrated end-to-end solution for VAT determination, compliance, data integrity, and audit prep. Improve efficiency and reduce audit risk across your VAT/GST operations, allowing your tax team to focus on revenue-generating activities. When used together with our Vertex e-Invoicing solution, Vertex VAT Compliance provides a single, integrated platform for managing multi-country VAT compliance for both real-time and periodic reporting requirements.
Product Details: Vertex VAT Compliance
Balancing the 2 Sides of VAT Compliance
Streamline indirect tax management with deep, proven tax content and software built to scale.
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