Comply (by Fintua)

The international orientation of companies makes it increasingly difficult to centrally manage the constantly changing VAT reporting requirements. Complying with country-specific submission deadlines and transmission types without technical support is time-consuming and carries the risk of severe penalties. In addition to these organizational challenges, tax departments also have to deal with a wide variety of tasks when preparing returns. For tax digitization to be successful, processes must therefore be standardized and every opportunity should be taken to reduce redundant, manual steps. Efficient tool support is crucial here, not only to work in a time and cost-efficient manner, but also to minimize errors.

Support for VAT reporting obligations for currently 26 countries

One tool that could support the implementation of these tasks is the cloud-based VAT compliance solution "Comply" from our strategic partner Fintua. The platform not only masters the fulfillment of reporting obligations for currently 26 countries, but also offers an automated check of the transactions to be processed with the existing validation rules. The workflow with the automatically generated reminder functions via email ensures that the administrative effort involved in the compliance process and, in particular, adherence to deadlines is significantly reduced.

VAT compliance redefined

• Creation and transmission of VAT reporting obligations in currently 26 countries

• Flexible interfaces to different ERP systems, eliminating complex manual processes in data provision

• Transactional data model enables near- and real-time reporting obligations (see also "ViDA - VAT in the Digital Age")

• Predefined automated (VAT) check rules, which can also be flexibly expanded

• Global dashboard for tracking the current processing status

• Integrated workflow for timely electronic submission

  
  As part of the introduction of Comply, our experts will support you with the organizational and technical implementation of the countries and companies in Scope. Thanks to the close cooperation with our strategic partner Fintua, we are in constant contact and, as WTS, are actively involved in the ongoing technical development of Comply.