Published on: 05.07.2023
Taxmarc is not just a Tax engine. It also provides insight into all transaction flows (goods and services) in which a company operates.
‘s-Hertogenbosch, 05-07-2022: During the creation of each transaction (sales and purchase) Taxmarc will determine what type of flow the transaction is part of. This transaction type will be recorded for each transaction along with all other fields required to make the tax determination. The tax fields can come mostly from standard SAP. The fields that standard SAP does not have but are relevant for tax determination will be added by Taxmarc during the process. See below an example of transaction flows (scenario types) recorded for every transaction.
Using the type of scenario, and the associated tax and supply chain fields, it is very easy to gain real-time insight into the complete business transaction flow model of a company.
The advantages of this data expansion are enormous, such as:
- Gain control over your indirect tax position
- Manage cash flows
- Real time indirect tax analyses
- Transaction mapping real time available
- Insight in all transaction flows which can be used for Transfer pricing
- Customs monitoring on sanctions import/export
Example of transaction flows displayed in graphic mode: