Vertex VAT Compliance

Streamline and automate VAT/GST filing reports and returns to improve compliance and audit performance.

Vertex Cloud VAT Compliance

Automate VAT reporting to increase efficiency and improve business agility.

Managing manual processes for global value-added tax (VAT) reporting is labor-intensive, error-prone, and costly. Keeping up with the latest requirements and meeting reporting timelines for each jurisdiction is challenging, and the effort required to support new business expansion can hinder a company’s agility to respond to market opportunity.

Vertex VAT Compliance enables multi-national corporations to support current operations and future business growth without additional VAT/GST process burden. Vertex offers a cloud-based, centralized multi-country VAT reporting solution with automation and built-in workflow tools to support periodic compliance reporting, returns generation and timely filing to the jurisdictions.

This application streamlines and automates multi-country VAT compliance to reduce risk, keep the business in line with the latest regulatory changes, improve process efficiency and data quality, and ensure timely submission to the jurisdictions. It also supports the growing digitization mandate around the world, including UK-MTD (Making Tax Digital), SAF-T, Spain SII, and Hungary RTR.

What is UK MTD?

"Making Tax Digital is making fundamental changes to the way the tax system works in the UK to become more effective, more efficient, and easier for taxpayers to get their tax right. As of 1 April 2022, all VAT-registered businesses must sign up for Making Tax Digital and are required to use MTD-compatible software to keep their records digitally and submit VAT returns. "

How can Vertex help support UK MTD?

  • Vertex VAT Compliance is a cloud-based MTD-compatible software. It is recognized by HMRC as digital “record-keeping software” which enables businesses to meet the requirements of UK MTD, including:
    • Submitting VAT returns
    • Viewing submitted VAT returns
    • Checking what VAT you owe
    • Viewing VAT payment history

Explore the Features, Benefits & Highlights

A robust foundation for multi-country VAT operations.

Generate signature-ready multi-language VAT/GST returns and reports (including EU Intrastats, ESLs, AP/AR Ledgers, and SAF-T) for 56 countries in Europe, Latin America, Asia, Africa; VAT e-file formats for 23 countries; UK- MTD requirements (Making Tax Digital); and real-time reporting for Spain and Hungary. New and updated content added monthly. Easily scale to support new countries.

Built-in flexibility to improve data management, process efficiency, and control.

Import transaction data from multiple sources -- ERPs, tax determination engine, or other sources -- and map data directly to the relevant jurisdiction-specific returns. Segregate or aggregate reporting obligations by company, entity business unit, and VAT Group. Our flexible system automates dataflow into the correct report/return based on your business structure and compliance strategy. Assign role-based access to functional areas of the compliance environment for improved control across the compliance team.

Save time and resources with streamlined data extraction from your source system.

Automatically retrieve transactional data directly from the source for precise periodic VAT reporting. Source-specific data extractors available to support SAP, Oracle, Microsoft and other systems to automate the tasks of data extraction and mapping to form fields. Easy to install extractors, with one-time setup, built for the systems used by your business, and streamlined based on country reporting requirements.

Automate data validation and transformation to reduce audit risk.

Run automated transactional tax data validations on imported files to enhance data quality and accuracy prior to return prep. Run automated validation of VAT ID numbers (post-transaction) via the VIES website to ensure proof of validation. Run standard report-level quality checks to validate the output prior to filing. Generate reports for a detailed audit trail of all data changes made.

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Improve audit performance by improving data transparency.

View full transparency and auditability of all VAT/GST data and adjustments through drilldown capability from the return to transaction-level data. Edit or add data prior to filing, with complete version control. Access audit event logs and detailed archives to support audit prep.

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Workflow management tools improve speed, efficiency, and control.

Workflow tools, dashboards, and reports allow users and management to visualize and track progress across the end-to-end compliance process — from filing preparation to approvals to submissions.

Approach VAT processes holistically with a fully integrated solution.

Leverage our fully integrated end-to-end solution for VAT determination, compliance, data integrity, and audit prep. Improve efficiency and reduce audit risk across your VAT/GST operations. When used together with our Vertex e-Invoicing solution, Vertex VAT Compliance provides a single, integrated platform for managing multi-country VAT compliance for both real-time and periodic reporting requirements.

HELPFUL RESOURCES

Discover more about Vertex VAT Compliance

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Find Out if Vertex VAT Compliance is Right for Your Business

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