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06/03/2018

Electronic VAT system

Tax agencies around the world are moving towards electronic tax compliance. However, in a global market like today’s, each country continues to develop its own standards. This hinders the adaptation for companies that find technology both a challenge and an opportunity in equal measures.

The big challenge for global companies is dealing with local tax compliance. Local tax compliance force companies to have several technology solutions, one for each country. This doubles the effort, and spreads management resources thinly. This prevents businesses taking advantage of the potential of automation.

How to be VAT compliant worldwide from one single platform?

To overcome this hurdle, we have created the EDICOM Platform, a global solution for B2B2G e-communications. Through the platform, companies can engage in EDI, e-Invoicing and electronic VAT returns in any region worldwide. This way, it is possible to centralize all transactions in a single platform, streamlining tasks and cutting costs.

You can find out more about the solution in our White Paper on Global VAT Compliance.

Check out some countries with electronic VAT systems

Spain: The SII real-time electronic VAT system has been up and running since July 1, 2017 for approximately 62,000 companies. On July 1, 2018 a new version of the schemas comes into force, although it will coexist with version 1.0 for a few weeks. With our solution EDICOMSii you can automate the entire process of delivering information to the AEAT, from generation of standard XML file to submitting the books to the Tax Agency’s e-Office, as well as certified safekeeping of documents under special security conditions in individual files which allow quick access to any record.

Hungary: Electronic real-time invoice data reporting system RTIR comes into effect as of July 1, 2018, mandatory for bills with over 100,000 HUF (approx. EUR 320) in VAT. The EDICOM solution fully automates communication with the tax authority, both for sending the invoice reports and integrating the NAV responses in the ERP. Our solution can transform data from any management system: SAP, Microsoft Dynamics, Sage, etc. Implementing the solution takes place in the cloud, so there is no need for any local installation by the client. Our platform guarantees security and confidentiality of the transmitted data, thanks to the different Information security certificates held.

Poland: A progressive adaptation of the VAT book declaration system through SAF-T is up and running. Bigger companies have been moved to the new system since July, reporting their VAT returns electronically using the JPK_VAT file monthly, before the 25th day. The obligation affects all companies registered in Poland for tax purposes, even though they may have no physical office in the country. EDICOM has already developed an e-Solution that automates generation and sending of the JPK_VAT file. Now businesses can easily comply with the Polish regulation, while simplifying their transactions with the Tax Authority.

Contact our team of experts to receive assessment on the best solution for your business.

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