The Tytho Indirect Tax Logic (ITL) suite of SAP VAT Add-on’s have been developed to:
- Better accommodate International Indirect Tax (VAT) obligations within SAP
- Facilitate the globalization of businesses, by ensuring the increasing complexities of supply chains are embedded correctly in SAP from a tax perspective.
- Introducing efficiency and accuracy to your SAP system from an Indirect tax perspective
- Reduce compliance and finance operating costs significantly, by getting it right at the core.
- Confidently work with the tax authorities on system audits, SAF-T, and other filings alike
- Reduce the risk of misperception, within the company, on Indirect tax and with the tax authorities
Running out of readable tax codes
- high maintenance costs
- introduction of unreadable code
Be compliant and have correct Tax Determination at the moment of taxable supply
- what is the taxable status of the seller
- correctly dealing with call of and consignment stock
- simplified triangulation, bondend supplies, reverse charge mechanisms, difficulty with chain transactions
Reporting (VAT & Intrastat) Management Information
- having to use multiple reports to be able to be compliant
- Intrastat and VAT do not reconcile
Master data issues
- ensuring correct VAT numbers in your master data
- efficient process for checking
- and storage of your evidence of checking
Our Indirect Tax Logic (ITL) determination tool provides a comprehensive solution to Indirect Tax determination within SAP and Tax Automation software. The tool consists of three elements: unique state-of-the-art determination, one single source of truth, and practical and complaint VAT accounting.
Indirect Tax determination can be complex, and an out-of-the-box ERP system like SAP has its limitation. Tytho ITL can offer a user-friendly solution that integrates into your SAP system, delivering accuracy that standard SAP cannot without additional tax parameters. Furthermore, Tytho ITL stores all relevant Indirect Tax data in one location, aligning sources to provide one transparent overview.
Lastly, Tytho ITL is a sustainable solution: addressing ERP system errors with long-term solutions.
Our tool executes the VAT number check – that is required by EU law to ensure that the VAT numbers of your customers and vendors are correct – within SAP; thus eliminating the need to go via the VIES website. The Tytho VAT number validation tool has three functions.
Firstly, it can check the VAT numbers as they are added to the customer or vendor master data. Secondly, it can run a report based on a select range, which compares the data in SAP with the VIES database.
This report reviews the VAT number, company name, and company address, storing the results in SAP to ensure you have a proper audit trail. Thirdly, it can include a check within the transactional process, for example during invoice creation. In conclusion, instead of using time and resources to manually check master data, allow Tytho to provide the solution to your VAT number validation process.
Our Indirect Tax Logic (ITL) tool offers a third type of tax code (standard SAP only offers two types of tax codes), which is non-jurisdictional tax codes with validity periods. In fact SAP’s limited number of tax codes, 1296 to be precise (without special characters taken into account), make Tytho ITL validity periods a valuable tool.
The implementation of our product allows the user to have a start and end date on every tax code, reducing the quantity and increasing the accuracy of the tax codes used. This tool reduces tax code maintenance costs, whilst allowing for configuration of complex multi-rate codes and more. Find out what else we can do by getting in touch today.
Our tool creates the SAF-T and SII files for submission, communicating directly with the tax office
- Standard Audit Files for Tax (SAF-T) is a data protocol for the efficient transfer of taxable transaction data between taxpayers and the tax authorities. The standard is defined by the Organization for Economic Co-operation and Development (OECD) and has now been rolled out in various EU and Non-EU states.
- The purpose of SAF-T is to conduct more efficient and effective Tax Inspections by enabling easier identification of the main areas of non-compliance in the Tax Reporting
ONESOURCE Indirect Tax Determination tax engine, from Thomson Reuters, integrates with all financial applications to consolidate global tax policy in one central location. It applies the most up to date and accurate tax logic to determine the product taxability to your financial transactions. The process gives any user, in any corporation the ability to deliver specific tax content and set-up specific tax rules across their network.
To find out more about how Tytho can implement ONESOURCE into your ERP system get in touch.
Vertex Indirect Tax O Series
Vertex Indirect Tax O Series is a ‘tax engine’ that automates tax decisions and tax coding within ERP/billing systems, greatly reducing the risk of human error. Vertex Indirect Tax O Series automatically maintains and updates global tax rates, rules and regulations, easing the burden for business of keeping up-to-date with the changing nature of tax.
As well as ensuring accurate consistent tax determination within the ERP, Vertex Indirect Tax O Series and related products provide enhanced analytic and statutory reporting capabilities.
To find out more about how Tytho can implement Vertex Indirect Tax O Series into your system get in touch.