Solving VAT Challenges For IT, Finance, And Tax Teams

Quarterly and monthly are terms of the past. With mandatory e-invoicing and transactional data real-time reporting comes increasing speed – and there’s no time to correct transactions before tax authority disclosure occurs. Accurate reporting is required, first time and fast or businesses risk exposure to onerous fines and audits from authorities.

It makes sense then that the strategy to meet the challenges must also evolve and change – and it is. Until recently, we found that the majority of businesses in Europe had been either coping with VAT changes and compliance using basic tools which weren’t really fit for purpose or more often had embarked on building bespoke solutions into SAP. However, we now see these approaches losing favour.