Richard Cornelisse

Data Analytics on all VAT relevant data

In Indirect Tax Automation, Processes and Controls, Technology on 14/04/2014 at 10:22 pm

Taxmarc™ SAP solution2

The benefits

  • All relevant VAT data separately stored in database in SAP (immediate available without any run-time issues)
  • Continuous Controls Monitoring for all stakeholders (data analytics)
  • Real time access to the company’s blue print
  • Determine impact of business change via simulation with real time data

Taxmarc™ Data Analytics is derived from Taxmarc™ Tax Engine. Therefore, risk domains are specifically salient. Knowledge for enabling fully automated VAT determination and building an integrated Tax Control Framework is crucial in data selection.

All VAT relevant data of all legal entities (at client level and not at company level) are gathered first in order to ensure the correct VAT determination and review whether overall VAT/GST control framework works still effective. Taxmarc™ Data Analytics is thus able to retrieve the company’s supply chain of all legal entities on the same SAP platform (company’s blue print).

This is externally done without the Taxmarc™ Tax Engine on the basis of a self-written SAP program (ABAP), so the data can be extracted from SAP in an uniform manner.

Within Taxmarc™ Tax Engine this Data Analysis tool is integrated in SAP self and queries, BW or an ABAP can be run. With this, problems regarding performance, format of reports and interpretation of data definitely belong to the past.

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