The Taxmarc Tax Control Framework, integrated in SAP checks every single purchase and sales transaction the moment it is entered in SAP automatically and in real time.
It validates compliance with tax laws and alignment with the company’s allowed business scenarios. The tax determination is carried out for the compliant transactions which do not need any additional intervention.
For the non-compliant transactions, a check and decision from the tax department is required. All non-compliant transactions are flagged and blocked. Additional tax specific screens have been added to all SAP transactions which provide all the information a Tax manager needs to make the right decision. No specific SAP knowledge is needed. All parameters and decisions by the tax department are tracked in a special audit trail log to provide full transparency in case of an audit.
Because of real time data management, the quality of your transactional data is ensured. Only compliant purchase and sales transactions are booked in SAP finance. All the attributes used for tax determination, the error messages and statuses are stored in your SAP database and the information is directly accessible via the transaction itself or via reporting. All the information is integrated into the same system and stored and accessible in the SAP database. Since only high-quality data is stored in the SAP database, you can meet the increasing government reporting and filing requirements such as SAF-T, real-time e-invoicing and reporting directly from your SAP system.