E-invoicing reporting is rapidly evolving worldwide and is significantly impacting business dynamics. In today's fast-paced environment, it is essential to meet digital tax obligations to enhance tax compliance and effectively manage automated tax audits. E-invoicing involves the electronic sending and receiving of invoices in a structured format.
In a clearance model, tax authorities audit sales e-invoices in near real-time. They first validate and approve the supplier's invoices before they are sent to customers, either by the supplier or the tax authority.
For example, in Italy, resident taxpayers submit their sales invoices to the tax authority’s platform for approval. Once an invoice is approved, the tax authority forwards it to customers for VAT processing and payment approval. The invoice received by the tax authority is recognized as the official VAT invoice, and VAT can only be deducted based on this invoice.
Other countries are also adopting the clearance model.
KGT has developed an SAP add-on that optimizes processes for extracting, transforming, and submitting data in the legal format tax authorities require. Within SAP, you can access a KGT cockpit, which offers tax controls to facilitate effective tax risk management. All your data remains securely stored in SAP, and the system is installed as a turn-key solution for a fixed fee. The number of invoices processed does not affect the pricing.
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
