Technology advisory

We combine technical knowledge with industry understanding and knowhow of technologically advanced tools and methodologies available in the market or developed by ourselves. We identify risk areas and sustainable planning opportunities for indirect taxes.

Reporting accuracy and efficiency could be achieved via well designed VAT function into Enterprise Resource Planning (ERP) systems, tax engines and third party compliance software.

The effectiveness and efficiency of VAT compliance could be  measured by the amount of time and resources it takes to produce your VAT return. Automation of a company's VAT compliance process can reduce risks or optimize tax planning (e.g. working trade capital, refunds, bad debts, etc.). Designed or implemented badly, it can burden and result in rework ('hidden factory') within an organisation.


What we offer

 

As tax experts we also speak the language of the business and IT and no translation is needed. We are:

  • Tax technical,
  • Tax technology, and
  • Business information systems experts

 

For questions please contact us.





Take aways 

Efficient process

A process that achieves the end result with minimum time and effort, and for minimum cost.

Lack of visibility

Employees that do not know a problem exists because their own or overall interactions are not looked at critically.

Value of a project or solution

Imagine how much you could save if the problem was completely eliminated. How long does this process take within your organization and what will be the amount of annual saving (i.e. Return on Investment period) after implementation of the solution at hand?

Bottom line saving

How changes eliminate wasted time, resources, and money and the completion of improvements(s) adds a specific amount to the bottom line (reduce expenses):

  • Less resources needed
  • No rework
  • Improves working trade capital
  • No disruption of the business
  • Lower external advisory costs
  • etc.

How projects or solutions increase revenues or reduce costs and expenses, so that earnings are improved.

Process improvement

Reduce both time and cost in tax processes, improve quality and reduce risks.

Time spent on compliance

Does the process of preparing and compiling the client’s VAT return take more than 5 man days? (starting from the moment of VAT-data collection until the VAT return is approved and filed).

Stakeholder analysis

A process to determine who will be affected by the outcome of a  project or solution.

Anticipate what users would want

We combine technical knowledge with industry understanding and knowhow of technologically advanced tools and methodologies available in the market or developed by ourselves.

What do we like to achieve

  • Focus on tax processes that could be improved
    • Manual process: same data requests are made by different stakeholders
  • As Is assessment
  • Anticipate future changes and the data needed
    • What are tax trends?
    • What is happening locally and what should be considered across jurisdictions where you operate?
    • Anticipate new stakeholders and their data needs or requests (internal and external)
  • Define scope and actions for short, mid and long term
  • Write business case for change
  • Realize sponsorship for implementation

‘As is’ assessment, actions and business case

  • What tax data is requested and by whom?
  • What tax process can be improved and what can be automated?
    • CIT, VAT, tax data warehouse
  • What is the Return on Investment?
    • Hard saving: process improvement
    • Meeting (new) tax requirement
  • What systems are in use: SAP, Oracle, etc
    • By which entities?
  • How many end-use computing tools (e.g. excel spreadsheet) do we have?
  • How do we avoid an ad-hoc solution?
    • Understand the bigger picture
    • Real problem and not the symptom

Risk and reward

Technology-related tax risk: understand and address the potential harms and benefits of (new) technology.

Technology tools & systems integration

Ascertaining proper IT support for ensuring efficient, timely and reliable reporting.

Change and project management

VAT should be considered in every aspect of the process, from concept through completion and beyond. Managing by design — looking at any process or transaction from end to end and factoring in all the requirements and controls essential to designing and optimizing a compliant VAT process.

Effective communication and teaming

We speak the language of the business and IT and no translation is needed.

From concept through completion and beyond

VAT should be considered in every aspect of the process, from concept through completion and beyond.

Managing by design

Looking at any process or transaction from end to end and factoring in all the requirements and controls essential to designing and optimizing a compliant VAT process.

Global tax environment is in a state of fast change

The key to success in the management is the ability to translate tax knowledge into workable business processes.

Risk: a domino-like effect

With indirect taxes intertwining through the day- to-day operations of a company—raising sales invoices, moving inventory, paying suppliers, collecting cash—indirect tax risk can have a distinct and domino-like effect on the commerciality of an organization.

Tax audits and new technology

More than 80% of businesses are still using spreadsheets to manage their VAT compliance in at least one jurisdiction in which they operate, despite tax authorities around the world investing in better tools.

OECD's Standard Audit File for Tax Purposes

The SAF-T standard, originally created by the OECD (similar as BEPS), is intended to give tax authorities easy access to the relevant data in an easily readable format for both corporate income tax as VAT.

What if there are glitches in your data, input errors, empty fields, awkward descriptions in fields or apparent inconsistencies?

Tools and technology

Tax department utilizes leading edge tools and technologies in an integrated manner fully leveraging the functionality offered.

Data gathering

To apply an efficient data gathering process including standardized input by other departments and multiple use of data.

Access to data

Easy access to data and the majority of tax data is collected once and reused by departments.

Use of spreadsheets

Spreadsheets are replaced by technology tools and systems to make information more efficient available.

Knowledge management

The ability to contribute and exchange knowledge is technology enabled and fully supported by the tax department.

Action plan

Improvement points are identified and action plans executed/implemented.