Are you VAT ready?

A well-designed enterprise resource planning (ERP) system connects all the areas of your organization – including those related to indirect tax.

The challenge is to understand all the available options and make decisions that best support your business, invoicing and indirect tax reporting obligations.

Your challenges

  • Put in place a new ERP system.
  • Identify hidden VAT risks in your company’s ERP system.
  • Test the VAT reporting component of your ERP system for its efficiency from VAT risk management and administrative points of view.
  • Use your ERP system to develop strategies that will reduce VAT costs and facilitate revenue growth.
  • Develop an ERP framework that will help your company manage VAT better.

How Facts can help you

  • Help you implement a new ERP system by mapping out upcoming indirect tax systems and processes.
  • Make sure that all VAT-related functionalities in your ERP system are being used optimally.
  • Train your staff to analyze and assess the entire range of your business transactions, determine your system requirements and develop the appropriate tax calculations.
  • Carry out a post-implementation review to make sure the system meets your invoicing and indirect tax reporting obligations.
  • Check automatic tax calculations and make any necessary modifications.
  • Evaluate the data in your ERP system to make certain that it is VAT-relevant and easy to access.