Vertex® Indirect Tax O Series® will help your multi-national organization alleviate the burden and costs associated with maintaining Value Added Tax (VAT) or other international indirect tax rates, rules, and logic.
The native functionality of most ERP systems solely account for international and global tax rates, not taking into consideration whether value added tax or other international taxes should in fact be applied on invoices or in what manner.
Vertex O Series lets your company’s indirect tax professionals easily apply the proper taxability to the diverse products and services they sell and/or purchase. This centralized system brings all decisions for indirect tax determination under the control of the tax department — where it belongs.
Value Added Tax Software Benefits
- Better Coordination: Gain better control over managing and coordinating compliance across multiple territories. You gain access to up-to-date information about international taxes and compliance positions in multiple territories.
- Access to Consistent Information: Vertex O Series provides consistency in format, delivery and type of information, on both a local and global level.
- Improved Control: When managing subsidiary tax compliance affairs, Vertex O Series facilitates the effective management of global indirect taxes and significantly enhances coordination of the compliance process.
- Ideal for Shared Service Centers: If you are planning to move your accounting function to a shared service center Vertex O Series provides the ideal solution for global indirect tax compliance and management information.
- Reduce Cost and Optimize Cash Flow: Vertex monthly rate and rule updates to reduce the need for a full-time tax research staff. In addition tax returns are also easily managed and submitted through this comprehensive tax compliance system. Comprehensive tax analytics tools will allow your organization to better analyze your tax position and ensure compliance with Sarbanes-Oxley and similar requirements.
Value Added Tax Software Features
- Supports over 240 countries and territories - including tax in Brazil, China, and India along with the European Union and the other regions
- Handle in-country and cross-border transactions and many special global indirect tax situations and rules, including:
- Intra-E.U. transactions
- Exemption certificates
- Reverse charges (self-assessment of VAT)
- Triangular supplies within the European Union
- Electronic supplies of services (digital downloads)
- VAT grouping arrangements and intra-group transactions
- Movements of goods into and out of duty-suspension regimes, such as bonded warehouses and free trade zones
- Taxability implications of title transfer and chain transactions
- The special challenges of complying with the taxing rules and regulations in countries such as Brazil, India, China and Russia
- The Centralized Architecture of Vertex O Series can be deployed in a remote call or direct call model and supports multiple ERP, CRM or Purchasing/ Procurement systems, eCommerce applications or any system that has a need for an accurate indirect tax calculation.
- Vertex O Series Reporting Database, the historical accumulation of all transaction result data produced by the calculation engine, supports business critical tax compliance processes.
- Security and Audit Log offers controlled access through role based security, to assure your tax management processes are in compliance with Sarbanes-Oxley or similar requirements.