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  • Alex Baulf: One of the biggest trends I'm seeing is real-time delivery of invoice data

  • to the tax authorities.

  • So, we're moving away from summary VAT return information filed by a taxpayer, to the tax

  • authorities receiving all of the transactional information, all of the master data from the

  • invoices, in real time.

  • Originally that was periodic; we're now moving to as real-time as it gets.

  • You know, as soon as that invoice leaves the system, the ERP or the E-Com system, that's

  • going to have to go direct to a tax authority.

  • We're seeing that in Hungary, in Italy, in Spain.

  • The direction of travel is real-time submission of data because tax authorities can use that

  • data to spot fraud, look for errors, they can run a lot of data analytics, data mining.

  • But also around the customers: are the customers VAT registered, are the numbers provided valid?

  • It's really a risk-based approach to audits, which allows them to look at hundreds of thousands

  • of lines of data, rather than just the selection of invoices in person, you know, the old fashioned way.

  • Tax departments around the globe have to keep track of all these changes: proposed changes,

  • confirmed changes, there are similarities between some.

  • For example, using the OECD's schema for SAF-T. But the real challenge is looking at the differences.

  • Making sure the systems can cope with the reporting.

  • Getting the right data in the right format at the right time.

  • Being able to submit that, to have a clear audit trail to any adjustments that are made.

  • And basically having faith in the integrity of that data.

  • The advice I'd give businesses is, really understand the requirements.

  • It's translating that into clear English, so not only you understand what you have to

  • achieve, the to-be state. But your IT team do as well.

  • You know, there's a common goal, there's a journey to get there.

  • And then, you know there may be gaps in your current system, your current data set.

  • And that's when you can look to third party tools like Vertex to see if you can meet those

  • new requirements.

  • Thanks for watching.

  • Explore the rest of our Vertex Exchange Europe 2018 playlist for more updates from Vertex

  • tax experts, partners and clients.

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Alex Baulf: One of the biggest trends I'm seeing is real-time delivery of invoice data

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B1 中級 美國腔

稅務資訊的實時報告|2018年歐洲頂點交流會|歐洲CEO。 (Real-time reporting of tax information | Vertex Exchange Europe 2018 | European CEO)

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    Chris Lyu 發佈於 2021 年 01 月 14 日
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