Intrastat reports are becoming more crucial for tax authorities in assessing the risk of VAT fraud, which is a significant concern for the European Commission and local governments. This underlines the importance of accurate and timely Intrastat reporting. Tax authorities often examine discrepancies between VAT returns and Intrastat reports, as these inconsistencies can lead to audits. In practice, reconciling these reports after the fact can be labor-intensive and even impossible due to the need for a reliable audit trail.
KGT has developed an SAP add-on that includes optimized processes featuring:
- Connection between VAT transactions and Intrastat requirements, reconciling EU transactions with Intrastat data, and identifying discrepancies.
- Detection of value mismatches between VAT reporting and Intrastat data.
- Validation of commodity codes against official catalogs.
- Assessment of discrepancies in exchange rate conversions.
- Suggestions of values based on specific logic, like country of origin for intra-company movements.
- Capability for manual adjustments to Intrastat-relevant elements, with changes recorded to maintain an audit trail in SAP.
As a recognized leader and long-standing official 'SAP Build partner', KGT specializes in developing SAP add-ons for VAT reporting, EC listing, e-invoicing, and SAF-T reporting. Our solutions support a company's tax control framework and include features such as Intrastat reporting, VAT number validation, and VAT data analytics:
- KGT SAP add-on to improve and better maintain your SAP tax determination
- KGT SAP add-on for managing all your e-invoicing needs
- KGT SAP add-on for managing all your SAF-T needs
- KGT SAP add-on for Validating VAT Numbers in SAP
- SAP add-on for EU VAT and EC listing reporting
- SAP add-on for VAT data analytics
- Implementing and configuring SAP DRC
We provide comprehensive tax solutions that support our clients throughout their entire tax lifecycle within SAP. Our services are utilized by reputable multinational companies across Europe and beyond.
KGT is a SAP partner for PE services and SAP Build partner, and to become an SAP partner, strict due diligence requirements must be met, including having certified SAP consultants. You can find us at: https://partnerfinder.sap.com/profile/0001925409
