Standard package: SAP add-on for VAT

Taxmarc™ developed various packages to satisfy various client needs based on the VAT/GST complexity of their business model. The variety of packages facilitate optimum client flexibility.
It is possible to select certain features or only one feature (e.g. tax code solution, VIES validation, tax code renaming exercise) but with the advantage to still add at a later stage additional features or even upgrade to the Standard or Premium Package.

Our Packages

1. Premium Package (Taxmarc™ Tax Engine)
2. Standard Package (Taxmarc™ Basic)
3. Start up Package (Taxmarc™ Add-on)

Standard Package

Our Standard Package is useful for companies that run medium complex business models as it contains VAT determination logic for complex business transactions.

It offers a VAT compliant determination solution and does not only address the shortcomings in standard SAP VAT determination, but also ensures control of VAT with the integrated VAT Control Framework in a transparent and easily maintainable way and it includes features to optimize workforce efficiency (lower maintenance costs).

VAT Determination

1. Automated VAT determination of: standard triangulation, VAT group scenarios, bonded/VAT warehouses, domestic reverse charge, special VAT regions (i.e. Canary Island), plants abroad scenarios, intra EU and export and supply of services
2. Automated VAT code determination inter-company invoices
3. VAT determination based on available customer VAT registration numbers

VAT Compliance

1. Required VAT data to comply with invoice requirements
2. Automated sequential invoice numbers per tax jurisdiction
3. An integrated Tax Control Framework which ensures that transactions that fail to comply with VAT requirements are automatically blocked (immediate resolving the non-compliance) or processed via an emergency table (retrospective correction)

VAT Management

1. All relevant tax transactions will be available in the Taxmarc™ Cockpit and standard authorization rules (security) for the tax transactions will apply
2. Standard SAP IMG (Implementation Guide) functionality to implement and customize the Taxmarc™ solution and enabling easy and cost efficient maintenance
3. Smart VAT condition design. Using a maximum of approximately 250 conditions per tax jurisdiction (low maintenance costs)
4. Smart foreign VAT registration design: adding a new VAT registration number activates automatically the applicable VAT condition records and tax codes when a VAT country is already available in Taxmarc™

The Premium Package contains all above features of the Standard Package functionality and has extra features for full automated VAT determination, automated VAT control and optimum workforce efficiency (e.g. lower maintenance costs, time stamped tax code solution, automated VIES validation).

See Pictorial overview: ‘ Compare Premium, Standard and Start-up package '