Integrating Vertex with SAP Ariba: An Overview
Episode 13 of Tax Today: Procurement
Listen Time 16 mins
Ready or not, real-time taxation is here, or, at least, something very close to real-time. Spain’s new VAT legislation, the Suministro Inmediato de Información (SII), which went into effect in July, requires some taxpayers to submit invoice data for both sales and purchases in XML format within four days of certain transactions. While several EEC countries have adopted Standard Audit File for Tax (SAF-T) requirements for electronic VAT reporting on a periodic basis, Spain is the first to require this kind of near-real-time information.
A new Vertex two-pager, SII in Spain – What You Need to Know, provides a detailed overview. Here are some important points to note:
In his July post, “The Rise of Real-Time Taxation,” Vertex Director of Strategic Development and Emerging Markets David Deputy examined some of the broader implications of tax authorities’ moves toward tighter filing deadlines. David promised that Vertex will keep you posted on the shift to real-time and what it means for your tax management activities. We’ll continue to do that – stay tuned.
Please remember that the Tax Matters provides information for educational purposes, not specific tax or legal advice. Always consult a qualified tax or legal advisor before taking any action based on this information.
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