Tax morale is shifting. More often what is (still) legally allowed may not automatically be accepted by the public opinion. Reputational damage is imminent. Both on direct and indirect taxation the tax authorities have set their priorities.
The tax authorities not only want to receive more tax data but also faster and more often.
Also, there is a tendency to allocate the ultimate tax responsibility at the highest level in a company. Since last year in the United Kingdom, the Board of Directors has to sign off the company's tax strategy and also publish the tax strategy externally.
The new data requirements of the tax authorities have to be adequately assessed and interpreted from a tax risk management perspective to see whether the data requested contain any unforeseen and significant tax risks. The outcome of such an exercise could also make clear that the company has to reorganize its business and tax processes.
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The next SAF-T wave
The following countries might be in the next wave: Germany, UK, Ireland and the Czech Republic. The Netherlands and Belgium are experimenting with another electronic format called “Transaction Network Analysis”, TNA is an overall European Commission initiative and 8 other countries have already joined.
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SAP add-on solutions for SAF-T
- A cost-efficient way to submit SAF-T files and perform risk management
- eInvoicing requirements in Hungary per July 1, 2018
- SAP add-on for SAF-T Poland
- SAP and SAF-T PL
- Mandatory e-audit files
- SAP - submitting close to real-time data to tax authorities
- SAF-T what is next ... Lithuania!
- Italy - Quarterly informative report VAT invoices data
- SAP end-to End solution for periodic SII files in Spain
- A scalable SAP solution for countries implementing SAF-T
- Norway introduces SAF-T to improve tax inspections
- Integrated SAP solution for SAF-T
Written by Richard Cornelisse
Richard advises multinational businesses in improving the efficiency and effectiveness of their Indirect Tax Function and Tax Control Framework.
He started his career as a manager at Arthur Andersen and then became a partner in EY where I led the indirect tax performance team for Netherlands and Belgium. Currently, he is a senior managing director of KEY Group.
Richard has over 20 years’ experience advising clients on international VAT issues. He is specialized in the tax aspects of financial transformations, shared service center migration, and post-merger integration work. Richard is also somewhat of a mentor, giving back to the profession. If you are interested in conversation and discussion, please feel free to contact him.