Page 2 of 2: Check the performance of your VAT risk management with KGT's data analysis
KGT has created an advanced data analysis solution for SAP users. Their SAP add-on automates tax controls and improves the efficiency of control checks, allowing for client-specific adaptations. This add-on extracts tax information for each billing document by considering factors like departure and destination countries, customer and material tax classifications, and applicable tax codes. It aligns with best practices and compares results with SAP’s determinations, highlighting discrepancies.
A key feature is the “full flow” check in SD billing, which gives an overview of VAT codes throughout the invoice chain linked to a sales order. This aids in ensuring compliance with local VAT regulations for goods supplied from European warehouses.
For example, intercompany partners Party A and Party B in the ABC flows can track tax determination results across the entire process. Additionally, the cockpit includes a ‘check result’ dashboard with traffic light indicators for adequate health checks.
KGT will analyze data and compile a report detailing the tax determination logic, associated risks, and key findings. This report will also identify the necessary steps to address any existing gaps. If you find our data analysis an invaluable resource for regular assessments, consider securing a license for our solution with an annual subscription.