Published on: 19.05.2022
Does your system enable you to easily assess the impact of registering your company for VAT in an additional country
‘s-Hertogenbosch, 19-05-2022: When your company decides to take a new VAT registration number, it is important to know what the tax impact is on all existing scenarios. To do this as efficiently as possible, you need real-time insight into all business flows that take place in your organization. With the powerful data analysis tool from Taxmarc, which runs in SAP Fiori, or your SAP system, you can get this information in no time. This will give you a quick overview of what part of the business would be impacted.
After adding the new company VAT registration number in your system, the Taxmarc engine will automatically start taking that new number into account. Because Taxmarc is an engine and not a mapping solution, no further set up is necessary. For all transactions from that point forward, the tax determination will be adjusted accordingly.
The advantage of this design is that for a detailed invoice by invoice analysis you can use the Taxmarc simulation tool. Add the new registration number in your quality system, then use the Taxmarc simulation tool to analyze what the impact would be on all your existing flows. Simply run the simulation tool on existing invoices and see which tax outcomes will change with the new registration number.
Taxmarc, automatically in compliance always in control