Some important updated concerning mandatory e-invoicing obligations in Italy such as soft landing and digital signatures and how invoices should be stored.
Commission develops TNA software to identify fraudulent networks
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- Written by Richard Cornelisse
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To speed up the joint processing and analysis of data within Eurofisc, the Commission is currently developing TNA software for voluntary use by the Member States as of 2018.
Italy - Quarterly informative report VAT invoices data
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The Italian authorities passed a series of measures aimed at detecting and combating tax fraud: "Quarterly informative report VAT invoices data".
SAF-T what is next ... Lithuania!
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In Europe SAF-T is now in force in Austria, France, Lithuania, Luxembourg and Poland. We understand that Germany, UK, Ireland, Norway and the Czech Republic are most likely next to introduce SAF-T. Lithuania is expanding its SAF-T.
Towards a new and definitive VAT system for the EU
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The Commission adopts new proposals for the most far-reaching VAT reform in the EU for a quarter of a century VAT is a major and growing source of revenue in the EU, raising over €1 trillion in 2015, corresponding to 7% of EU GDP.
Being ready for GCC VAT introduction when operating SAP
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The Governments of the Gulf Cooperation Council (GCC) - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates that make up GCC - are committed to form a common framework for the introduction of value added tax (VAT) in the region.
SAP and SAF-T Poland
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From 1st July 2016 onwards it is required to provide SAFT-PL files in XML format on request of the PL Tax authorities.
SAP End-to End solution for periodic SII files in Spain
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In Spain a new VAT reporting system will enter into force on the 1st of July 2017.
A cost efficient way to submit SAF-T files and perform risk management
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A SAF-T SAP add-on solution developed together by ‘Tax Assurance and certified SAP add-on specialists’ is now available for Poland, Lithuania and Norway.
A SAP add-on to be able to cope with SAF-T and e-tax audits
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Tax authorities around the world want to receive more frequent and faster tax relevant data for e-audit purposes to analyse Corporate Income Tax (CIT) and VAT positions taken to combat VAT fraud and to determine whether actually a fair share is paid (Base Erosion and Profit Shifting: 'OECD's BEPS').
SAP add-on for immediate Supply of Information (SII) in Spain
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SII (“Suministro Inmediato de Información”) in Spain is about changing the current VAT management system which has been in place for 30 years, introducing a new bookkeeping system for VAT on the AEAT online system, by providing all billing records virtually immediately.
Integrated SAP add-on solutions for SAF-T
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Besides recently Poland, SAF-T is introduced now also for Lithuania and Norway. A fully integrated solution in SAP without an external interface or use of external software is available for Lithuania, Poland and Norway. Other countries will follow.
SAF-T Poland per 1st July 2018 extended to taxpayers with more than 9 employees or 2 million EUR sales revenue
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Filing SAF-T will be mandatory for large taxpayers: employ more than 250 people or 50 million EUR sales revenue irrespective of whether they are established in Poland or not. Per 1st July 2018 this extended to taxpayers with more than 9 employees or 2 million EUR sales revenue.
In Spain on 1 July 2017: immediate supply of Information to tax authorities in force
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In Spain a new VAT reporting system will enter into force on the 1st of July 2017. The new Spanish requirements will have a huge impact on many (multi)nationals that run SAP.
Norway introduces SAF-T to improve tax inspections
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Norway is introducing SAF-T reporting for corporate entities, either resident or with physical presence in Norway (VAT registered businesses). From 1st January 2017 onwards it is required to provide SAFT-NO files in XML format on request of the Norwegian Tax authorities.
Full VAT automation of AP and AR
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If the aim of your organization is full VAT automation of AP and AR, it is important to have a clear understanding of your material risks at hand, and your lowest performing processes in order to define the functional specifications for a solution.
How to get ready in time for SII Spain
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Any SII Spain solution should be implemented on 1 July 2017 as the first mandatory submission is already 8 days later. There are rumours that submission deadline might be delayed but that is still a big uncertainty.
Introducing a new VAT system
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On 16 June 2016, the Finance Ministers of the Gulf Cooperation Council (GCC) held an extraordinary meeting in Jeddah, Saudi Arabia on GCC Value Added Tax (VAT).
Innovation and tax audits
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Tax authorities, due to technological innovations, have become increasingly better in executing their tax audit.
Converting the sales middleman function from Commissionaire to LRD
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The objective is to bring commissionaire arrangements within the framework of dependent agency PE. Companies are converting commissionaire to LRD. Once a commercial and tax-efficient structure is determined— one that addresses both historical and potential risk - it is time to take the theory behind the structure into the realm of practice.
Mandatory e-audit files
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Tax authorities, due to technological innovations, have become increasingly better in executing their tax audit.
Verify SAP VAT configuration
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Verify VAT configuration A SAP review should highlight where the VAT configuration could be improved or if additional control measures should be added to the business’s Tax Control Framework.
Brexit - changes in SAP: assess, redesign and test
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Although the EU VAT regime will remain in place until negotiations between the UK and the EU will be concluded, it is most likely that new UK VAT legislation will come into force in the spring of 2019.
Creating XML SAF-T Structures directly in SAP ECC
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Our SAP add-on for SAF-T Poland runs over SAP ECC, is compatible with OECD standard and covers the steps of creation of necessary structures in XML format including E-submission with signature and encryption.
Roadmap to implement VAT in SAP
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For nearly every company, the accuracy and efficiency of local VAT compliance is completely dependent on the functionality of the underlying SAP system. Any incorrect set-up of the basic VAT configuration of their SAP systems can severely impact it’s processing.
Creating XML SAF-T Structures directly in SAP ECC
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- Hits: 6900
Our SAF-T SAP add-on runs over SAP ECC, is compatible with OECD standard and covers the steps of creation of necessary structures in XML format including E-submission with signature and encryption.
SAP add-on for SAF-T Poland
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We can offer a SAP add-on solution for Poland (ABAP) at a fixed all inclusive fee. Fully integrated in SAP without an external interface or use of external software. All inclusive means implementation, training and 1 year of free support and maintenance for bug-fixes & legal updates.
High level overview of EU VAT system
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A high level overview is provided of the EU VAT system: what is subject to VAT and the right and methods of VAT recoverability. It includes also a comparison with the US Sales and Use Taxes system.
SAP - submitting close to real time data to tax authorities
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The Italian, Polish, Lithuanian and Spanish authorities passed a series of measures aimed at detecting and combating tax fraud.