tag:blogger.com,1999:blog-23757714188148869642024-03-14T02:17:44.964-07:00Global Tax ManagementWhere tax risk based controls should be expectedAnonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.comBlogger192125tag:blogger.com,1999:blog-2375771418814886964.post-30368605407224589262018-01-27T01:30:00.000-08:002018-01-27T01:32:33.801-08:00Hungarian SAP health check: data in SAP incorrect and incomplete!From 1 July 2018, taxpayers are as stated earlier obliged to provide within 24 hours invoice data for domestic transactions with a minimum VAT amount of 100,000 HUF (322 EUR).<br />
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Although we offer a fully SAP-integrated solution in SAP itself to submit required data in an automated way, it is essential to review whether the data in SAP itself is correct and complete.<br />
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The Key Group has recently delivered its Hungarian SAP health check pilot for one of its major clients, and the outcome was that quite some changes in SAP had to be made to avoid either future questions by the tax authorities or announcement of a tax audit when data is submitted mid-2018.<br />
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Please keep in mind that the Hungarian tax authorities are aware that SAP setup itself is often not in order and that tools outside the ERP system are used to remediate and manipulate tax data outside of SAP with the purpose to improve tax reporting.<br />
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The full automated legal requirement is to force taxpayers to remediate the ERP VAT setup itself and realize that taxpayers do not use workarounds as Excel sheets or similar tools outside the ERP system as human intervention is not allowed.<br />
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When the definitive EU VAT system becomes in force - expected in 2021 - these data requests become even more critical.
The local tax authorities will use the acquired tax data to check whether sufficient tax revenue is received from the other Member State(s).<br />
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Based on this pilot we have designed an efficient and effective assessment process that will include not only an overview of gaps but as well our view how to remediate these gaps in SAP itself.<br />
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The Key Group offers an SAP health check specifically on the Hungarian legal requirements defined in XML format.<br />
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<strong>Download</strong>: <a href="https://richardcornelisse.files.wordpress.com/2018/01/flyer.pdf">brochure</a><br />
<strong>Read more</strong>: <a href="http://globalindirecttaxmanagement.com/home/408-einvoicing-requirements-in-hungary-per-july-1-2018.html">eInvoicing requirements in Hungary per July 1, 2018</a>Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com5tag:blogger.com,1999:blog-2375771418814886964.post-55216567538004003492018-01-26T13:55:00.002-08:002018-01-26T13:55:29.899-08:00eInvoicing requirements in Hungary per July 1, 2018<div style="text-align: justify;">
From 1 July 2018, taxpayers are as stated earlier obliged to provide within 24 hours invoice data for domestic transactions with a minimum VAT amount of HUF 100,000 (322 EUR). The ERP system must be able to detect sales invoices meeting reporting requirements: the minimum VAT amount. To be able to comply with the requirements and provide the data on in time, a taxpayer needs to develop either tooling or purchase a solution.</div>
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<a href="http://globalindirecttaxmanagement.com/home/408-einvoicing-requirements-in-hungary-per-july-1-2018.html" target="_blank">Read more</a>Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com1tag:blogger.com,1999:blog-2375771418814886964.post-46744087482462514932017-12-05T04:05:00.001-08:002017-12-05T04:05:14.765-08:00Commission develops TNA software to identify fraudulent networks<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjUd1M-T-aSu3eR7Hm5zPeEfVhpzT6hapVkgqczx9tAbpo1BNieUEDF6fY87z4-UTvEqiA0DQfbBuDqwDUk52mGScj9ItJu6Ev03diufuMnD5gJJj7EhjAOxctFYQuBvzJ7O7Q6IvRUJOk/s1600/unnamed+document+2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="453" data-original-width="1146" height="126" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjUd1M-T-aSu3eR7Hm5zPeEfVhpzT6hapVkgqczx9tAbpo1BNieUEDF6fY87z4-UTvEqiA0DQfbBuDqwDUk52mGScj9ItJu6Ev03diufuMnD5gJJj7EhjAOxctFYQuBvzJ7O7Q6IvRUJOk/s320/unnamed+document+2.jpg" width="320" /></a></div>
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To speed up the joint processing and analysis of data within Eurofisc, the Commission is currently developing TNA software for voluntary use by the Member States as of 2018.<br /><br />In order to maximise TNA’s potential to identify fraudulent networks across the whole EU, Regulation (EU) No 904/2010 would make clearer provision for the joint processing and analysis of data within Eurofisc.<br /><br />Involvement in such processing and analysis will remain voluntary. However, all Member States should grant Eurofisc officials access to their VIES data on intra-Union transactions through TNA.<br /><br />In that way the software can identify all potential fraud networks, including those involving traders established in non-participating Member States.<div>
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Read more: <a href="http://globalindirecttaxmanagement.com/thought-leadership-publications/chapter-7-fraud/fair-taxation-commission-proposes-new-tools-to-combat-vat-fraud.html">Fair Taxation: Commission proposes new tools to combat VAT fraud</a><div>
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Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com1tag:blogger.com,1999:blog-2375771418814886964.post-79498877329210153592017-10-13T12:04:00.001-07:002017-10-20T23:22:26.767-07:00Towards a new and definitive VAT system for the EU<div style="text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRTFQJPj3Z2l_plUyl1lZnxmmQnpLy5tAWanlAdjgvjWINdA5BwgZiw0L8bIulIqorDcSuKgkljLd7_4YbzkJ_c3jwgG3cviy565D-SYzfxwZKo5h8Hc3W_48lgqwMkETqDU8CQNm-Zzw/s1600/Screen+Shot+2017-10-12+at+19.14.18.jpg" imageanchor="1"><img border="0" data-original-height="807" data-original-width="1109" height="233" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRTFQJPj3Z2l_plUyl1lZnxmmQnpLy5tAWanlAdjgvjWINdA5BwgZiw0L8bIulIqorDcSuKgkljLd7_4YbzkJ_c3jwgG3cviy565D-SYzfxwZKo5h8Hc3W_48lgqwMkETqDU8CQNm-Zzw/s320/Screen+Shot+2017-10-12+at+19.14.18.jpg" width="320" /></a> </div>
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According to the Commission's proposals, VAT will now be charged on cross-border trade between businesses. Currently, this type of trade is exempt from VAT, providing an easy loophole for unscrupulous companies to collect VAT and then vanish without remitting the money to the government.It will be simpler for companies that sell cross-border to deal with their VAT obligations thanks to a 'One Stop Shop' (OSS).</div>
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Traders will be able to make declarations and payments using a single online portal in their own language and according to the same rules and administrative templates as in their home country. Member States will then pay the VAT to each other directly, as is already the case for all sales of e-services.The Commission also proposes a move to the principle of 'destination' whereby the final amount of VAT is always paid to the Member State of the final consumer and charged at the rate of that Member State.</div>
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Source: <a href="http://globalindirecttaxmanagement.com/home/402-towards-a-new-and-definitive-vat-system-for-the-eu-2.html" target="_blank">Towards a new and definitive VAT system for the EU</a>Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com0tag:blogger.com,1999:blog-2375771418814886964.post-29665894162573047112017-09-19T07:21:00.004-07:002017-09-20T23:44:26.031-07:00Tax authorities demand more, faster and more frequent dataThe fierce debate on a fair distribution of tax revenues by governments has reached new heights. Tax shift due to risk allocation of transactions to low tax rate countries and even globalization itself are under political discussion.<br />
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Protectionism is an important part of the strategic objectives of certain governments.
Additionally, the discussion concerning BEPS and state aid have caused fiscal uncertainties that force companies to reevaluate risks. In some cases this can even lead to changes in the business model.<br />
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Current business models are put under a magnifying glass, but also the change of business models – for instance from commissionaire to limited risk distributor – will get attention from the tax authorities.<br />
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A reorganization in the Dutch Tax and Customs Administration has established the objective that routinely and labor-intensive, yet relatively simple control activities are to be taken over by automated processes.<br />
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That is, modern technologies appear to substitute to role of the ‘traditional’ tax auditor.
The idea is that new computer systems and data analysis software will allow data files from different source systems to be connected, thereby enabling more efficient tax control and requiring fewer ‘traditionally educated’ employees.<br />
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The objective also holds that the tax authorities have earlier and faster access to relevant tax data and that this data is periodically provided by tax payers in a format that is prescribed by the government and that can easily be read and immediately reveal inconsistencies in fiscal activities.<br />
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Transfer pricing and/or VAT regulations are still not sufficiently taken into account in the development of VAT-automation regarding business processes.<br />
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This makes that the data that is captured in a vast amount of financial administration, can ‘impossibly’ be compared with that which is stated on the tax returns.<br />
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<h2 style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: rgba(0, 0, 0, 0.85098); font-size: 26px; line-height: 32px; margin: 2.8rem 0px; outline: 0px; padding: 0px; vertical-align: baseline;">
All chapters</h2>
<ol>
<li><a href="https://www.linkedin.com/pulse/tax-relevant-data-tp-vat-why-what-how-richard-h-cornelisse" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">Introduction: Relevant tax data from Transfer Pricing and VAT: explaining the ‘Why’, ‘What’ and ‘How’</a></li>
<li><a href="https://www.linkedin.com/pulse/auditor-yet-risk-analyst-richard-h-cornelisse" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">The auditor is not (yet) a risk analyst</a></li>
<li><a href="https://www.linkedin.com/pulse/new-legislation-uk-tone-top-richard-h-cornelisse?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">New tax legislation in the UK: 'Tone at the top'</a></li>
<li><a href="https://www.linkedin.com/pulse/more-attention-transfer-pricing-richard-h-cornelisse?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">More attention for Transfer Pricing</a></li>
<li><a href="https://www.linkedin.com/pulse/more-attention-vat-richard-h-cornelisse" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">More attention for VAT</a></li>
<li><a href="https://www.linkedin.com/pulse/tax-authorities-demand-more-faster-frequent-data-cornelisse/" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">Tax authorities request more, faster and more often tax data</a></li>
<li><a href="https://www.linkedin.com/pulse/saf-t-increasing-number-countries-richard-cornelisse/?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">SAF-T rolled out in more countries</a></li>
<li><span style="color: rgba(0 , 0 , 0 , 0.701961); font-family: "source serif pro" , serif; font-size: 21px;">'</span><a href="https://www.linkedin.com/pulse/impact-in-house-tax-function-richard-h-cornelisse?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">The impact on in-house tax function' and 'Preaudit before submit'</a></li>
<li><a href="https://www.linkedin.com/pulse/concluding-remarks-towards-shared-responsibility-richard-cornelisse/?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">Realise a joint tax responsibility</a></li>
<li>Read: <a href="http://globalindirecttaxmanagement.com/articles-richard-cornelisse/relevant-tax-data-from-transfer-pricing-and-vat-explaining-the-why-what-and-how.html" rel="nofollow noopener" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">complete article with all chapters and links to follow up articles (in depth)</a></li>
</ol>
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</ol>
Above is a translation of article published in Vakblad Tax Assurance. Dutch version can be downloaded for free: <a href="http://www.vakbladtaxassurance.nl/uploads/tekstblok/vta_2017_01_04.pdf" rel="nofollow noopener" target="_blank">Download click the link</a>Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com1tag:blogger.com,1999:blog-2375771418814886964.post-12388352125158803662017-08-09T05:04:00.002-07:002017-08-15T09:43:10.854-07:00Tax Risk Management - submitting tax relevant data to the tax authorities<div style="border: 0px; color: rgba(0, 0, 0, 0.701961); font-family: 'Source Serif Pro', serif; font-size: 21px; line-height: 32px; margin-bottom: 3.2rem; margin-top: 3.2rem; outline: 0px; padding: 0px; vertical-align: baseline;">
Tax authorities are besides optimizing traditional tax reporting systems increasingly implementing in addition electronic (almost) 'real-time' transaction reporting systems. It is expected that tax authorities due to technological innovations become increasingly better and faster in executing their tax audit.</div>
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<div style="color: rgba(0, 0, 0, 0.701961); font-family: 'source serif pro', serif; font-size: 21px;">
<span style="font-family: "source" serif "pro" , serif;"><span style="font-size: 21px;">Complementary to the existing and more traditional tax reporting in countries like Austria, France, Lithuania, Luxembourg, Norway, Poland, Portugal, Spain already (close) to real time data request have to be submitted and/or should be available on short notice when a tax audit is announced. </span></span><br />
<span style="font-family: "source" serif "pro" , serif;"><span style="font-size: 21px;"><br /></span></span>
<span style="font-family: "source" serif "pro" , serif;"><span style="font-size: 21px;">In countries like Austria, France, Lithuania, Luxembourg, Norway, Poland, Portugal, Spain already (close) to real time data request have to be submitted and/or should be available on short notice when a tax audit is announced. </span></span><br />
<span style="font-family: "source" serif "pro" , serif;"><span style="font-size: 21px;"><br /></span></span>
<span style="font-family: "source" serif "pro" , serif;"><span style="font-size: 21px;"><b>What is next?</b></span></span><br />
<span style="font-family: "source" serif "pro" , serif;"><span style="font-size: 21px;"><br /></span></span>
<span style="font-family: "source" serif "pro" , serif;"><span style="font-size: 21px;">Italy, the VAT invoices data informative reports must be filed with the tax authorities on a six-monthly basis starting by September 18, 2017. From 2018 the deadlines will be on a quarterly basis. For Hungary realtime invoicing is postponed to 1 July 2018. Companies need to have a solution implemented that is capable of real time data transfer by 1st of July 2018 at the latest.</span></span><br />
<span style="font-family: "source" serif "pro" , serif;"><span style="font-size: 21px;"><br /></span></span>
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<blockquote class="tr_bq" style="text-align: justify;">
<span style="font-family: "source" serif "pro" , serif;"><span style="font-size: 21px;"><b>It is however not clear how the tax authorities actually will analyse the data received. That might change soon as their strategy is an improved and faster tax audit including combatting VAT fraud as an overall EU priority.</b></span></span></blockquote>
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<a href="http://globalindirecttaxmanagement.com/thought-leadership-publications/building-blocks-of-a-vat-control-framework/sound-tax-audit-defense-close-to-real-time-data-request-and-sap-vat-configuration-review.html" rel="nofollow noopener" style="border: 0px; color: #827be9; cursor: pointer; font-family: inherit; font-size: 21px; font-style: inherit; line-height: inherit; margin: 0px; outline: none; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">Let me explain</a></div>
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Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com0tag:blogger.com,1999:blog-2375771418814886964.post-64421552895541860862017-07-31T00:46:00.000-07:002017-08-08T10:12:42.180-07:00VAT Control Framework: how to get from A to B<div class="separator" style="clear: both; text-align: center;">
<strong style="border: 0px; color: rgba(0, 0, 0, 0.85098); font-family: inherit; font-size: 26px; font-style: inherit; font-variant-caps: inherit; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">The critical conditions for success</strong></div>
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The importance of indirect tax has increased over the last couple of years. While the rates for direct tax, corporate income tax, are decreasing, the rates for indirect tax keep rising. At multinational companies we’re easily talking about amounts of over 5 billion euros of indirect tax flowing through the books.</div>
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According to big4 surveys, the related control mechanisms are still inadequate. Not only can an error in the accounts lead to major additional tax assessments and substantial penalties, with amounts like these, it can be devastating for the reputation of a listed company. We are talking about extremely large amounts of money that lack appropriate control, but because KPIs have never been developed for this particular purpose, the risks remain outside the CFO’s field of view.</div>
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The Indirect Tax Function is aware of the fact that it is understaffed and that budget is too limited to optimally execute its tasks, but they often don’t know how to change this and get it on the agenda of the CFO.</div>
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It’s essential that change comes from the organization itself. An advisor can repeat this over and over, but if it isn’t carried out within the organization, by the people who actually have to work with it, nothing will change. And that deadlock must be broken.</div>
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<strong style="border: 0px; font-family: inherit; font-style: inherit; font-variant-caps: inherit; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">What should be done to actually break it? </strong></div>
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<a href="http://globalindirecttaxmanagement.com/thought-leadership-publications/building-blocks-of-a-vat-control-framework/vat-control-framework-how-to-get-from-a-to-b.html" rel="nofollow noopener" style="border: 0px; color: #8c68cb; cursor: pointer; font-family: inherit; font-style: inherit; font-variant-caps: inherit; line-height: inherit; margin: 0px; outline: none; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">Let me explain</a></div>
Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com0tag:blogger.com,1999:blog-2375771418814886964.post-20065295069919913612017-07-25T12:58:00.000-07:002017-08-08T10:12:15.555-07:00Being ready for GCC VAT introduction when operating SAP<div style="text-align: justify;">
The Governments of the Gulf Cooperation Council (GCC) - Bahrain, Kuwait, Oman, Qatar (status unknown due to GCC politics/friction), Saudi Arabia and the United Arab Emirates that make up GCC - are committed to form a common framework for the introduction of value added tax (VAT) in the region. In order to achieve conformity within the GCC, it is anticipated that the six member states will all aim for implementation of VAT during the period commencing 1 January 2018 or by the end of 2018.</div>
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VAT as a process will affect many aspects of businesses operating in the GCC and will require significant time to plan, and integrate into existing processes.<br />
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<div style="text-align: center;">
<strong>Setting the objectives</strong></div>
<ul>
<li>To be ready in time and a need of an effective and efficient work process between Tax function, IT function and its third party consultants</li>
<li>To optimize its VAT deduction and to automate this VAT process as much as possible in SAP</li>
<li>To limit VAT risks and meet VAT reporting obligations (e.g. reverse charge mechanism to avoid non VAT compliance)</li>
<li>To automate VAT processes via enhancing the SAP 'as is' functionality where possible</li>
<li>Set up processes and controls when VAT automation is not feasible</li>
<li>To test new SAP functionality prior to go-live (sandbox)</li>
</ul>
Based on above objectives the PDF document '<em>More detailed description of Work in booklet</em>' established the scope, schedule and means of initiating the work to be performed by the service provider and describes or references the specifications, instructions, standards, and other documents, which the service provider shall satisfy or adhere to in the performance of the work<br />
<blockquote class="tr_bq">
<strong>The KEY Group is supporting one of the largest multinationals with the setup of the GCC VAT rules in SAP itself</strong></blockquote>
Read more: <a href="http://globalindirecttaxmanagement.com/home/395-being-ready-for-gcc-vat-introduction-when-operating-sap.html" target="_blank">Being ready for GCC VAT introduction when operating SAP</a><br />
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</div>
<div style="text-align: center;">
<span style="color: #333399;"><a href="mailto:richard.cornelisse@key-group.nl?subject=GCC%20VAT%20introduction%20when%20operating%20SAP" style="color: #333399;" target="_self">Contact us for more information</a></span></div>
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Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com1tag:blogger.com,1999:blog-2375771418814886964.post-13479554638807113452017-07-08T02:07:00.001-07:002017-07-11T00:30:41.881-07:00SII VAT filing submission: we successfully met first submission deadline<div class="testimonial-box">
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<span style="color: black;"><strong>Istanbul, Turkey and Amsterdam, the Netherlands</strong> <strong>— SNI and Key Group announce for 50 multinationals a successful Spanish SII filing</strong></span></div>
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<span style="color: black;"><br /></span></div>
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<span style="color: black;">The Spanish SII filing, a new requirement introduced by the Spanish government, requires taxpayers to submit VAT relevant transactional data of their Accounts Payable (AP) and Accounts Receivable (AR) records in a specific XML format close to real-time to the Spanish tax authorities (AEAT). To support these new regulations our clients have implemented our SAP add-on for Spain. </span></div>
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<span style="color: black;">That is a SAP integrated solution for Spain with a cockpit to select reportable outgoing and incoming invoices, create periodic SII files (envelopes), E-submission of SII XML files and control reports. The creation and submission of the SII reports could be fully automated in SAP Batch jobs. It is however also possible to do some SII reports (for example the sales invoices) fully automated and other SII reports (for example the incoming invoices) manually.</span><br />
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<span style="color: black;"><b>All flags are on green</b></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgOjPU5hgnsCkf8dZkcHXrsTMrP0Lbwembgf9VSfEgjWyPUGaCJck_y5pALXZBEIakd1FC57edexGi8ll2nZDIT1lLfqxbdnh1hIGnYuShyphenhyphen9XTSkChadQZi3h8EuVJtxrCzfijiAoAaSGE/s1600/image1.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="483" data-original-width="615" height="251" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgOjPU5hgnsCkf8dZkcHXrsTMrP0Lbwembgf9VSfEgjWyPUGaCJck_y5pALXZBEIakd1FC57edexGi8ll2nZDIT1lLfqxbdnh1hIGnYuShyphenhyphen9XTSkChadQZi3h8EuVJtxrCzfijiAoAaSGE/s320/image1.png" width="320" /></a></div>
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<span style="color: black;"><b><br /></b></span></div>
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We are pleased to announce that our first actual SII VAT filing submission were completed successfully prior to first submission deadline.</div>
</div>
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<div class="testimonial-footer">
<br />
Richard Cornelisse, CEO Key Group <span style="color: black;"><em>and</em></span> Cem Yurdakul, CEO SNI<br />
<br />
More detail: SAP - <a href="http://globalindirecttaxmanagement.com/home/367-sap-submitting-close-to-real-time-data-to-tax-authorities.html" target="_blank">submitting close to real time data to tax authorities</a><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgg7rDMrGvP_XLP0wlBH5GimpfE25cHQE0YFvnMf057lh9p63iVBIoaPZsynSno4r_WQalYUyCkeuTBbgV93peCbUxlI_yvcgB5pIipgPvZYwsvhPhNGDpXXNB5JnnVvLLLHoj0C0mM3dY/s1600/4aebfeb8-68f9-4e6d-b000-a0bbca5a36b4.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="76" data-original-width="560" height="43" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgg7rDMrGvP_XLP0wlBH5GimpfE25cHQE0YFvnMf057lh9p63iVBIoaPZsynSno4r_WQalYUyCkeuTBbgV93peCbUxlI_yvcgB5pIipgPvZYwsvhPhNGDpXXNB5JnnVvLLLHoj0C0mM3dY/s320/4aebfeb8-68f9-4e6d-b000-a0bbca5a36b4.jpg" width="320" /></a></div>
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Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com0tag:blogger.com,1999:blog-2375771418814886964.post-37598017557631866092017-05-02T00:51:00.001-07:002017-05-02T00:53:04.414-07:00SNI Zugferd SAP add-on: enables electronic invoice exchange in SAP itself<blockquote class="tr_bq">
SNI SAP-ZUGFERD is a SAP certified SAP add-on enabling electronic invoice exchange including structured data in an efficient way. </blockquote>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
ZUGFeRD is an abbreviate for »Zentraler User Guide des Forum elektronische Rechnung Deutschland«. It is a new invoicing standard that will play a major role in efficient and effective electronic invoicing. ZUGFeRD invoices carry both a human-readable representation (rendering) of the invoice as well as a structured machine-readable XML representation.</div>
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The objective of ZUGFeRD is to enable electronic invoice exchange including structured data in the public and private sectors. The goal of ZUGFeRD is to enable electronic invoice exchange including structured data in the public and private sectors:<br />
<br />
<br />
<ul>
<li>ZUGFeRD invoices carry both a human-readable representation (rendering) of the invoice as well as a structured machine-readable XML representation</li>
<li>The human-readable rendering is encoded as one or more PDF pages according to the PDF/A (standard)</li>
</ul>
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<b>What is the new innovative way</b><br />
<br />
For companies that run SAP we have developed a SAP add-on solution by which e-invoicing requirements can be met in efficient and effective and automated fashion in SAP itself.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg_Q9Z0FZ34z-Jh-0PqlpGoLEyKeLRop6u6VnnubE3B9AXEDdYn2gTBKROt_NWUg7uWReZ3HVsGoYk9S2ZmnllhaQTKPsiujPeq3CvZOMqyfnvL2PZClL7dqP5gKm8RmlqjUoZhf0uESsA/s1600/Screen+Shot+2017-05-01+at+22.38.46.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg_Q9Z0FZ34z-Jh-0PqlpGoLEyKeLRop6u6VnnubE3B9AXEDdYn2gTBKROt_NWUg7uWReZ3HVsGoYk9S2ZmnllhaQTKPsiujPeq3CvZOMqyfnvL2PZClL7dqP5gKm8RmlqjUoZhf0uESsA/s640/Screen+Shot+2017-05-01+at+22.38.46.png" width="640" /></a></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiS6V5A_67mDc6FpoxPAah0SU_4-Je2WX300pX0Dy_Zl6hYFleYmjzjauy3B8TJ4j6NGwOoFcJrDnHjSM9sd_TesGPqYi_U_VaOB3xtILAL_FkaBbgugzOEsAO_HzmCnngJOdUNvCHlLnA/s1600/Screen+Shot+2017-05-01+at+22.39.03.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiS6V5A_67mDc6FpoxPAah0SU_4-Je2WX300pX0Dy_Zl6hYFleYmjzjauy3B8TJ4j6NGwOoFcJrDnHjSM9sd_TesGPqYi_U_VaOB3xtILAL_FkaBbgugzOEsAO_HzmCnngJOdUNvCHlLnA/s640/Screen+Shot+2017-05-01+at+22.39.03.png" width="640" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgkiCLfxvnP4ZqOEvOhFYL5VOzEppQxByS-WM9ec0RkQW3zexubeF9dWNGxVxyEyFRVE7r4QY1Ad_fDE_y8gu3ylRWc8xmj3anmsHR1mYN91yANNwTXOwItdc3ze6axQnNRopfvePBhpGQ/s1600/Screen+Shot+2017-05-01+at+22.39.06.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgkiCLfxvnP4ZqOEvOhFYL5VOzEppQxByS-WM9ec0RkQW3zexubeF9dWNGxVxyEyFRVE7r4QY1Ad_fDE_y8gu3ylRWc8xmj3anmsHR1mYN91yANNwTXOwItdc3ze6axQnNRopfvePBhpGQ/s640/Screen+Shot+2017-05-01+at+22.39.06.png" width="640" /></a></div>
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<strong style="border: 0px; color: rgba(0, 0, 0, 0.701961); font-family: 'Source Serif Pro', serif; font-size: 21px; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">PowerPoint for complete overview of the product</strong><br />
<strong style="border: 0px; color: rgba(0, 0, 0, 0.701961); font-family: 'Source Serif Pro', serif; font-size: 21px; line-height: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><br /></strong>
<br />
<iframe allowtransparency="true" frameborder="0" height="400" src="http://files.slidesnack.com/iframe/embed.html?hash=bh3a7sf9&wmode=transparent&bgcolor=EEEEEE&t=1493646538&type=presentation" width="600"></iframe>Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com0tag:blogger.com,1999:blog-2375771418814886964.post-32802272165694649872017-04-22T05:07:00.003-07:002017-09-20T23:45:22.408-07:00More attention for Transfer Pricing<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjHnlUNTXOQXJO2yZzOuOi_VuwafHoDZC80wXbrWYdLwO4qOoC-NvAHhCfOdVG2O-3qErkGDJ4mH4y1Pu4uOEz1hs2UhP_B5PrI1cvzJo5ZL1_aTxaxyo2HOZPp-ygvyUvu0mJOinW7m-U/s1600/cropped-219e87b-1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="83" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjHnlUNTXOQXJO2yZzOuOi_VuwafHoDZC80wXbrWYdLwO4qOoC-NvAHhCfOdVG2O-3qErkGDJ4mH4y1Pu4uOEz1hs2UhP_B5PrI1cvzJo5ZL1_aTxaxyo2HOZPp-ygvyUvu0mJOinW7m-U/s320/cropped-219e87b-1.jpg" width="320" /></a></div>
<blockquote class="tr_bq" style="text-align: justify;">
<b>Many countries nowadays implement the BEPS recommendations such as the ‘master’ and ‘local’ file and the ‘Country-by-Country’ report. In general, this not only leads to an aggravation of Transfer Pricing (hereafter: TP) compliance activities, but also results in the potential discovery of errors that were previously undetectable. Indeed, TP processes are generally not (yet) automated and analysis activities regarding TP are primarily executed manually.</b></blockquote>
<div style="text-align: justify;">
This situation makes it challenging to have all relevant tax data provided in time. This applies to both the collection of the required source data, as well as the TP analysis itself. Often, the supplied formats and templates are unusable or have to be ‘manually’ modified in Excel in order to be used.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The current trend is that increasingly more detailed information is necessary for specific products or services; ranging from who the order was placed by to details about the applied margins for service – and goods transactions and the conditions under which these took place. Timely access to such source data has thus become even more important.</div>
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<br /></div>
<div style="text-align: justify;">
This is also the ‘overlap’ with data required for the indirect tax function. Cross-border intercompany transactions form a risk area that will be included in the VAT risk matrix – risks that exceed the risk appetite – by every multinational and that requires efficient monitoring and checks.<br />
<h2 style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: rgba(0, 0, 0, 0.85098); font-size: 26px; line-height: 32px; margin: 2.8rem 0px; outline: 0px; padding: 0px; text-align: start; vertical-align: baseline;">
All chapters</h2>
<ol style="text-align: start;">
<li><a href="https://www.linkedin.com/pulse/tax-relevant-data-tp-vat-why-what-how-richard-h-cornelisse" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">Introduction: Relevant tax data from Transfer Pricing and VAT: explaining the ‘Why’, ‘What’ and ‘How’</a></li>
<li><a href="https://www.linkedin.com/pulse/auditor-yet-risk-analyst-richard-h-cornelisse" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">The auditor is not (yet) a risk analyst</a></li>
<li><a href="https://www.linkedin.com/pulse/new-legislation-uk-tone-top-richard-h-cornelisse?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">New tax legislation in the UK: 'Tone at the top'</a></li>
<li><a href="https://www.linkedin.com/pulse/more-attention-transfer-pricing-richard-h-cornelisse?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">More attention for Transfer Pricing</a></li>
<li><a href="https://www.linkedin.com/pulse/more-attention-vat-richard-h-cornelisse" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">More attention for VAT</a></li>
<li><a href="https://www.linkedin.com/pulse/tax-authorities-demand-more-faster-frequent-data-cornelisse/" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">Tax authorities request more, faster and more often tax data</a></li>
<li><a href="https://www.linkedin.com/pulse/saf-t-increasing-number-countries-richard-cornelisse/?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">SAF-T rolled out in more countries</a></li>
<li><span style="color: rgba(0 , 0 , 0 , 0.701961); font-family: "source serif pro" , serif; font-size: 21px;">'</span><a href="https://www.linkedin.com/pulse/impact-in-house-tax-function-richard-h-cornelisse?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">The impact on in-house tax function' and 'Preaudit before submit'</a></li>
<li><a href="https://www.linkedin.com/pulse/concluding-remarks-towards-shared-responsibility-richard-cornelisse/?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">Realise a joint tax responsibility</a></li>
<li>Read: <a href="http://globalindirecttaxmanagement.com/articles-richard-cornelisse/relevant-tax-data-from-transfer-pricing-and-vat-explaining-the-why-what-and-how.html" rel="nofollow noopener" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">complete article with all chapters and links to follow up articles (in depth)</a></li>
</ol>
Above is a translation of article published in Vakblad Tax Assurance. Dutch version can be downloaded for free: <a href="http://www.vakbladtaxassurance.nl/uploads/tekstblok/vta_2017_01_04.pdf" rel="nofollow noopener" target="_blank">Download click the link</a></div>
Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com0tag:blogger.com,1999:blog-2375771418814886964.post-32043093538403374872017-04-15T03:21:00.001-07:002017-09-20T23:45:47.205-07:00New legislation UK: Tone at the top<div style="border: 0px; color: rgba(0, 0, 0, 0.701961); font-family: 'Source Serif Pro', serif; font-size: 21px; line-height: 32px; margin-bottom: 3.2rem; margin-top: 3.2rem; outline: 0px; padding: 0px; vertical-align: baseline;">
In an increasing number of countries, laws and regulations are established that force companies to be transparent with regard to their handling of tax risks, (fiscal) risk management, risk appetite – also in relation to tax planning – and the way of dealing with tax authorities.</div>
<div style="border: 0px; color: rgba(0, 0, 0, 0.701961); font-family: 'Source Serif Pro', serif; font-size: 21px; line-height: 32px; margin-bottom: 3.2rem; margin-top: 3.2rem; outline: 0px; padding: 0px; vertical-align: baseline;">
This concerns the actual fiscal management, including the way in which the company makes tax decisions, for instance regarding distributed information about the systems and the means used for effective monitoring of fiscal risks. </div>
<div style="border: 0px; color: rgba(0, 0, 0, 0.701961); font-family: 'Source Serif Pro', serif; font-size: 21px; line-height: 32px; margin-bottom: 3.2rem; margin-top: 3.2rem; outline: 0px; padding: 0px; vertical-align: baseline;">
The Finance Bill, that was established in 2016 by the United Kingdom, forces the Board of Directors of British multinationals not only to compose a tax strategy, but also to publish it. An important new aspect of this Finance Bill is that it obliges one person within the Board of Directors to be assigned the responsibility for the tax strategy. </div>
<div style="border: 0px; color: rgba(0, 0, 0, 0.701961); font-family: 'Source Serif Pro', serif; font-size: 21px; line-height: 32px; margin-bottom: 3.2rem; margin-top: 3.2rem; outline: 0px; padding: 0px; vertical-align: baseline;">
The power of this legislation resides in the fact that it forces the Board of Directors to actually determine a position regarding the company’s tax morality. This is recorded in a public statement, which makes it an important criterion in measurement and evaluation of the performance of the Board of Directors itself (fiscal KPI).</div>
<div style="border: 0px; color: rgba(0, 0, 0, 0.701961); font-family: 'Source Serif Pro', serif; font-size: 21px; line-height: 32px; margin-bottom: 3.2rem; margin-top: 3.2rem; outline: 0px; padding: 0px; vertical-align: baseline;">
Supervisory bodies such as the Supervisory Board (and auditors?) will have to evaluate whether the board indeed conforms to the formulated fiscal norm. </div>
<div style="border: 0px; color: rgba(0, 0, 0, 0.701961); font-family: 'Source Serif Pro', serif; font-size: 21px; line-height: 32px; margin-bottom: 3.2rem; margin-top: 3.2rem; outline: 0px; padding: 0px; vertical-align: baseline;">
Moreover, as appears from the parliamentary history, it is expected that companies that have not published their business strategy are more likely to accept a higher risk appetite with regard to tax risks, compared to companies that have defined and formally published a strategy, both internally and externally.</div>
<div style="border: 0px; color: rgba(0, 0, 0, 0.701961); font-family: 'Source Serif Pro', serif; font-size: 21px; line-height: 32px; margin-bottom: 3.2rem; margin-top: 3.2rem; outline: 0px; padding: 0px; vertical-align: baseline;">
There is a clear difference between this new legislation and existing initiatives such as the Senior Accounting Officer (SAO) regime in the UK. Whereas SAO is aimed at adequate tax accounting specifically, the new legislation goes beyond the SAO because it requires companies to provide insight into the business strategy with regard to taxes. </div>
<div style="border: 0px; color: rgba(0, 0, 0, 0.701961); font-family: 'Source Serif Pro', serif; font-size: 21px; line-height: 32px; margin-bottom: 3.2rem; margin-top: 3.2rem; outline: 0px; padding: 0px; vertical-align: baseline;">
We think that this type of legislation realizes the objective measurability of the ‘Tone at the top’ in the fiscal domain. Without ownership and active involvement of the Board of Directors, the realization of vast changes or large investments is a hopeless mission when coming from change management.</div>
<div style="border: 0px; color: rgba(0, 0, 0, 0.701961); font-family: 'Source Serif Pro', serif; font-size: 21px; line-height: 32px; margin-bottom: 3.2rem; margin-top: 3.2rem; outline: 0px; padding: 0px; vertical-align: baseline;">
By placing the responsibility for the execution of the fiscal strategy on the Board of Directors, the tax division will receive the tools required for adequate execution of its function – mandate, resources, budget etc. – much faster. This will be amplified when signals from external sources – the auditor and the tax authorities – that promote prioritizing of taxes, also reach the Board of Directors. </div>
<div style="border: 0px; color: rgba(0, 0, 0, 0.701961); font-family: 'Source Serif Pro', serif; font-size: 21px; line-height: 32px; margin-bottom: 3.2rem; margin-top: 3.2rem; outline: 0px; padding: 0px; vertical-align: baseline;">
The assignment of accountability, the composition and publication of the tax strategy would be an improvement of the current ‘Horizontal Monitoring’ policy in the Netherlands, as it brings the fiscal responsibility to the Board of Directors.</div>
<div style="border: 0px; color: rgba(0, 0, 0, 0.701961); font-family: 'Source Serif Pro', serif; font-size: 21px; line-height: 32px; margin-bottom: 3.2rem; margin-top: 3.2rem; outline: 0px; padding: 0px; vertical-align: baseline;">
In practice, the Horizontal Monitoring relies too much on the relation between the Taxpayer coordinator (account manager) of the Dutch tax authorities and the Head of tax of the company.<br />
<h2 style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: rgba(0, 0, 0, 0.85098); font-family: -webkit-standard; font-size: 26px; line-height: 32px; margin: 2.8rem 0px; outline: 0px; padding: 0px; vertical-align: baseline;">
All chapters</h2>
<ol style="color: black; font-family: -webkit-standard;">
<li><a href="https://www.linkedin.com/pulse/tax-relevant-data-tp-vat-why-what-how-richard-h-cornelisse" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">Introduction: Relevant tax data from Transfer Pricing and VAT: explaining the ‘Why’, ‘What’ and ‘How’</a></li>
<li><a href="https://www.linkedin.com/pulse/auditor-yet-risk-analyst-richard-h-cornelisse" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">The auditor is not (yet) a risk analyst</a></li>
<li><a href="https://www.linkedin.com/pulse/new-legislation-uk-tone-top-richard-h-cornelisse?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">New tax legislation in the UK: 'Tone at the top'</a></li>
<li><a href="https://www.linkedin.com/pulse/more-attention-transfer-pricing-richard-h-cornelisse?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">More attention for Transfer Pricing</a></li>
<li><a href="https://www.linkedin.com/pulse/more-attention-vat-richard-h-cornelisse" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">More attention for VAT</a></li>
<li><a href="https://www.linkedin.com/pulse/tax-authorities-demand-more-faster-frequent-data-cornelisse/" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">Tax authorities request more, faster and more often tax data</a></li>
<li><a href="https://www.linkedin.com/pulse/saf-t-increasing-number-countries-richard-cornelisse/?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">SAF-T rolled out in more countries</a></li>
<li><span style="color: rgba(0 , 0 , 0 , 0.701961); font-family: "source serif pro" , serif; font-size: 21px;">'</span><a href="https://www.linkedin.com/pulse/impact-in-house-tax-function-richard-h-cornelisse?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">The impact on in-house tax function' and 'Preaudit before submit'</a></li>
<li><a href="https://www.linkedin.com/pulse/concluding-remarks-towards-shared-responsibility-richard-cornelisse/?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">Realise a joint tax responsibility</a></li>
<li>Read: <a href="http://globalindirecttaxmanagement.com/articles-richard-cornelisse/relevant-tax-data-from-transfer-pricing-and-vat-explaining-the-why-what-and-how.html" rel="nofollow noopener" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">complete article with all chapters and links to follow up articles (in depth)</a></li>
</ol>
</div>
<ol style="border: 0px; color: rgba(0, 0, 0, 0.701961); font-family: 'Source Serif Pro', serif; font-size: 21px; line-height: 32px; list-style-image: initial; list-style-position: initial; margin: 3.2rem 0px; outline: 0px; padding: 0px; vertical-align: baseline;">
</ol>
<div style="border: 0px; color: rgba(0, 0, 0, 0.701961); font-family: 'Source Serif Pro', serif; font-size: 21px; line-height: 32px; margin-bottom: 3.2rem; margin-top: 3.2rem; outline: 0px; padding: 0px; vertical-align: baseline;">
Above is a translation of article published in Vakblad Tax Assurance. Dutch version can be downloaded for free: <a href="http://www.vakbladtaxassurance.nl/uploads/tekstblok/vta_2017_01_04.pdf" rel="nofollow noopener" style="border: 0px; color: #8c68cb; cursor: pointer; font-family: inherit; font-style: inherit; font-variant-caps: inherit; line-height: inherit; margin: 0px; outline: none; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">Download click the link</a></div>
Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com0tag:blogger.com,1999:blog-2375771418814886964.post-91960949353628091532017-04-04T16:30:00.004-07:002017-04-04T23:45:47.622-07:00Partnership between Key Group, SNI and ConVista<div style="text-align: justify;">
A partnership is closed between the Key Group, SNI and the international operating SAP consultancy firm 'ConVista Consulting' with offices amongst others in Madrid and Barcelona. Key Group and SNI operate from Netherlands, Poland and Turkey.</div>
<hr id="system-readmore" />
<h2>
Who we are</h2>
<div style="text-align: justify;">
In order to establish synergies to support business SAP challenges of our clients we have setup a joint venture initiative in the past. Tax SAP experts - KEY Group and Phenix Consulting - developing together with SNI a global development partner of SAP and leading software company in the area of e-invoice, e-bookkeeping, e-archive, e-ticket.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
SNI's core business is to provide SAP certified add-ons for legal compliance to a large number of global well-known companies. We have therefore access in-house to senior Tax SAP experts working together with SAP experts (functional and technical). That means our turnaround time is fast and our quality is very high.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
A partnership is closed with the international operating SAP consultancy firm '<a href="http://www.convista.com/" target="_blank">ConVista Consulting</a>' with offices amongst others in Madrid and Barcelona. Our partnership relates to distribution, implementation and maintenance support (Spanish language) for our SAP SII add-on solution for Spain.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
ConVista is an experienced consulting firm with a large track record in the design and installation of financials & treasury applications with SAP. We offer comprehensive IT consulting services complemented by custom software development. ConVista provides a complete service offering from a single source. Streamlined processes, a higher degree of automation and shorter project durations serve as indicators for improved efficiency. Expertise in process, technology and methodology form the fundamental components of our work. We combine long-lasting experience in the implementation and delivery of large programs with in-depth knowledge of treasury applications from SAP.</div>
<h2>
Quienes somos</h2>
<div style="text-align: justify;">
Hemos desarrollado una iniciativa conjunta con el fin de establecer sinergias para ayudar a nuestros clientes en los desafíos de negocio de SAP. Los expertos en impuestos SAP - KEY Group y Phenix Consulting - forman junto con SNI un partner global de SAP y una compañía de software líder en el área de factura electrónica, e-book, e-archive, e-ticket. Además nuestro partnership con <a href="http://www.convista.com/" target="_blank">ConVista</a> nos permite dar cobertura a nuestros clientes en numerosos países, facilitando la implantación y mantenimiento de nuestras soluciones.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
La principal actividad de SNI consiste en proporcionar add-ons certificados por SAP para cubrir los requisitos legales en un gran número de empresas ampliamente conocidas. Por este motivo disponemos de expertos senior en el área de impuestos que trabajan conjuntamente con expertos de SAP (funcionales y técnicos), lo que nos permite un tiempo de respuesta rápido y una alta calidad.</div>
<ul>
<li><a href="http://globalindirecttaxmanagement.com/home/380-sap-add-on-for-immediate-supply-of-information-sii-in-spain.html" rel="noopener noreferrer" target="_blank">SAP add-on for immediate Supply of Information (SII) in Spain</a></li>
<li><a href="http://globalindirecttaxmanagement.com/home/386-sap-solution-para-el-suministro-inmediato-de-informacion-sii-en-espana.html" rel="noopener noreferrer" target="_blank">SAP Solution para el Suministro Inmediato de Información (SII) en España</a></li>
<li><a href="http://globalindirecttaxmanagement.com/home/381-in-spain-on-1-july-2017-immediate-supply-of-information-to-tax-authorities-in-force.html" rel="noopener noreferrer" target="_blank">In Spain on 1 July 2017: immediate supply of Information to tax authorities in force</a></li>
<li><a href="http://globalindirecttaxmanagement.com/home/387-espana-1-de-julio-de-2017-suministro-inmediato-de-informacion-a-las-autoridades-sii.html" rel="noopener noreferrer" target="_blank">España 1 de julio de 2017: Suministro Inmediato de Información a las autoridades (SII)</a></li>
</ul>
Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com1tag:blogger.com,1999:blog-2375771418814886964.post-24541687528049779172017-04-04T08:07:00.001-07:002017-04-04T23:46:13.692-07:00España 1 de julio de 2017: Suministro Inmediato de Información a las autoridades (SII)<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYaaQi1bNRPhJcJwmQRueTH6hrJOAvebGOhOrCZKDFWFrnHlMoM53wTfu2N7sF-euxPyPYxnlwiNg2RcEbc-PhWJ-o9cNqeO2wfpunetKC3jhgJfEk9HIVEimfrLMViJiAAakI9hRg2p8/s1600/Convista_Logo_1c_cyan.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="66" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYaaQi1bNRPhJcJwmQRueTH6hrJOAvebGOhOrCZKDFWFrnHlMoM53wTfu2N7sF-euxPyPYxnlwiNg2RcEbc-PhWJ-o9cNqeO2wfpunetKC3jhgJfEk9HIVEimfrLMViJiAAakI9hRg2p8/s320/Convista_Logo_1c_cyan.png" width="320" /></a></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
A partir del 1 de julio de 2017, más de 62.000 empresas estarán obligadas a gestionar el IVA de forma electrónica. Se trata de un nuevo sistema electrónico para la declaración telemática de los libros de registro del IVA, que nace con el objetivo de agilizar el cumplimiento fiscal y las devoluciones de este impuesto.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
La nueva plataforma de SII se centra en la obligación de la emisión y declaración electrónica del detalle de las facturas emitidas y recibidas por parte de una empresa.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
De esta forma los libros registro de IVA se constituyen de forma automática, a través del envío recurrente sobre el detalle de las operaciones realizadas por una compañía. El plazo máximo de tiempo otorgado por la AEAT para el envío de la información es de 4 días hábiles ( 8 durante el segundo semestre de este mismo año)</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Así pues, el modelo impulsado por la AEAT permitirá comunicar en tiempo real las operaciones comerciales realizadas por las compañías, incrementando la rapidez y eficiencia del control tributario y fiscal.</div>
<div style="text-align: center;">
Más información: <a href="http://www.agenciatributaria.es/AEAT.internet/Inicio/La_Agencia_Tributaria/Campanas/Suministro_Inmediato_de_Informacion_en_el_IVA__SII_/Suministro_Inmediato_de_Informacion_en_el_IVA__SII_.shtml" rel="noopener noreferrer" target="_blank">Suministro Inmediato de Información (SII) en España</a>.</div>
<h2 style="text-align: center;">
SAP Solution para el SII</h2>
<h2 style="text-align: center;">
<strong><a href="https://www.blogger.com/index.php?option=com_content&view=article&id=381:in-spain-on-1-july-2017-immediate-supply-of-information-to-tax-authorities-in-force&catid=19:front-page&Itemid=101" target="_self">IN ENGLISH</a></strong></h2>
<strong>SAP Solution para el SII. Hemos desarrollado una solución integrada en SAP que da cobertura a los siguientes procesos:</strong><br />
<ul>
<li>Selección automática de documentos/transacciones registradas en los módulos de SD y FI/AR/AP y conversión en eDocuments</li>
<li>Clasificación de los eDocuments en torno a los requerimientos informativos del SII a través de “envelopes”</li>
<li>Generación de los mensajes XML de comunicación con la AEAT</li>
<li>Comunicación a través de Web Service del envío y recepción de los mensajes XML requeridos por la AEAT</li>
<li>Gestión de los certificados homologados por la AEAT para garantizar el no repudio de la información intercambiada</li>
<li>
Integración de los mensajes resultantes de la validación realizada por la AEAT sobre la información enviada<br />
</li>
</ul>
<strong>El Cockpit SII ofrece las siguientes funcionalidades:</strong><br />
<ul>
<li>Desglose ampliado de la información financiera en el Edocument</li>
<li>Muestra datos de cabecera y del desglose de la factura en el Edocument</li>
<li>Muestra el mensaje XML constituido en la pantalla</li>
<li>Desglose de las transacciones de origen en SAP</li>
<li>Muestra el seguimiento y estado del Edocument</li>
<li>Almacena claves de aprobación (CSV) de la Agencia Tributaria</li>
<li>Implementación de workflows de aprobación previos a la comunicación a la AEAT</li>
<li>Opción de supresión lógica de documentos electrónicos (por ejemplo, para cancelar / traspasar facturas AP en SAP debido a errores de contabilización)</li>
<li>Cargar desde Excel transacciones / informes de aplicativos externos no SAP</li>
<li>Generación de los mensajes XML a la Agencia Tributaria para completar el proceso automatizado de envío electrónico</li>
</ul>
<iframe frameborder="0" height="400" src="http://files.slidesnack.com/iframe/embed.html?hash=bhpfr39u&wmode=transparent&bgcolor=EEEEEE&t=1491284079&type=presentation" style="display: block; margin-left: auto; margin-right: auto;" width="600"></iframe>
<br />
<h2 style="text-align: center;">
Características generales del add-on</h2>
<strong>Las soluciones integradas SAP e-invoice / SAF-T tienen las siguientes características:</strong><br />
<ul>
<li>Totalmente integrado en SAP sin una interfaz o software externo</li>
<li>Independiente de la versión y actualización de SAP, implementado sin modificación del core</li>
<li>Área de nombres para todos los objetos registrada globalmente “/SNI/”</li>
<li>Lenguaje de programación ABAP, idioma del producto en inglés</li>
<li>Instalación realizada simplemente mediante un archivo de transporte externo</li>
<li>Todos los desarrollos bajo un paquete</li>
<li>Datos XML almacenados en tablas /SNI/</li>
<li>Compatibilidad – Uso de XI/PI o integradores de facturas electrónicas</li>
<li>Funciones SAP estándar disponibles (variantes, pantallas de selección, etc.)</li>
<li>Autorización SAP estándar</li>
<li>Pantallas fáciles de usar</li>
<li>Tablas personalizadas propias</li>
<li>Códigos y menús de transacciones propios</li>
</ul>
<h2 style="text-align: center;">
Sí, el add-on es escalable</h2>
El add-on es escalable. Algunas configuraciones son específicas de cada país y otras son compartidas. SAF-T está disponible para Francia, Polonia, Lituania, Noruega y ahora también para España (SII). Los nuevos requisitos en tiempo real para Hungría e Italia ya están en desarrollo. Nuestro objetivo es tener add-ons para todos los países que implementan la presentación de informes SAF-T.<br />
<h2 style="text-align: center;">
Quienes Somos</h2>
<div style="text-align: justify;">
Hemos desarrollado una iniciativa conjunta con el fin de establecer sinergias para ayudar a nuestros clientes en los desafíos de negocio de SAP. Los expertos en impuestos SAP - KEY Group y Phenix Consulting - forman junto con SNI un partner global de SAP y una compañía de software líder en el área de factura electrónica, e-book, e-archive, e-ticket. Además nuestro partnership con <a href="http://www.convista.com/" target="_blank">ConVista</a> nos permite dar cobertura a nuestros clientes en numerosos países, facilitando la implantación y mantenimiento de nuestras soluciones.<br />
<br />
La principal actividad de SNI consiste en proporcionar add-ons certificados por SAP para cubrir los requisitos legales en un gran número de empresas ampliamente conocidas. Por este motivo disponemos de expertos senior en el área de impuestos que trabajan conjuntamente con expertos de SAP (funcionales y técnicos), lo que nos permite un tiempo de respuesta rápido y una alta calidad.</div>
<h3 style="text-align: center;">
<span style="color: #333399;"><a href="mailto:Alfred.Roig@ConVista.com?subject=Suministro%20Inmediato%20de%20Informaci%C3%B3n%20(SII)" style="color: #333399;" target="_self">Contact us for more information</a></span></h3>
<hr />
<h2 style="text-align: center;">
<a href="http://www.agenciatributaria.es/AEAT.internet/Inicio/Ayuda/Modelos__Procedimientos_y_Servicios/Ayuda_P_G417____IVA__Llevanza_de_libros_registro__SII_/Ayuda_tecnica/Informacion_tecnica_SII/Preguntas_tecnicas_frecuentes/1__Cuestiones_Generales/3___Es_necesario_algun_tipo_de_homologacion_para_empresas_que_desarrollan_soluciones_que_implementan_funcionalidades_de_los_web_.shtml" rel="noopener noreferrer" target="_blank">AEAT FAQ</a></h2>
Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com0tag:blogger.com,1999:blog-2375771418814886964.post-12572129806217241722017-04-04T07:54:00.001-07:002017-04-04T23:46:34.982-07:00SAP Solution para el Suministro Inmediato de Información (SII) en España<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjlMpiibjJzLtT6JMaKORUoVLvD_VH-wdUJ4uvJRdcgX_cSFWK-8fP71LrYGb1qccXkY92soeuIGobFI-WABcywSNxSmKoLwbVIZSn6KEC5fp-wR-9xWmT4CbOyYBfQSiBwIPByexlPc10/s1600/Convista_Logo_1c_cyan.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="66" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjlMpiibjJzLtT6JMaKORUoVLvD_VH-wdUJ4uvJRdcgX_cSFWK-8fP71LrYGb1qccXkY92soeuIGobFI-WABcywSNxSmKoLwbVIZSn6KEC5fp-wR-9xWmT4CbOyYBfQSiBwIPByexlPc10/s320/Convista_Logo_1c_cyan.png" width="320" /></a></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
La Agencia Tributaria implanta un nuevo sistema de gestión del IVA basado en el Suministro Inmediato de Información (SII). El denominado “IVA online” es un procedimiento de gestión telemática u online con la Agencia Tributaria (AEAT), mediante el cual las empresas tendrán que comunicar los registros de facturación (no las facturas) de forma electrónica. Con esta información, la AEAT irá configurando, en tiempo real, los distintos Libros de Registro.</div>
<h2 style="text-align: center;">
Solución con SAP add-on</h2>
<h2 style="text-align: center;">
<a href="https://www.blogger.com/index.php?option=com_content&view=article&id=380:sap-add-on-for-immediate-supply-of-information-sii-in-spain&catid=19:front-page&Itemid=101" rel="noopener noreferrer" target="_blank"><strong>IN ENGLISH</strong></a></h2>
<div class="top-header" style="text-align: justify;">
<strong>En España, el nuevo sistema de declaración del IVA entrará en vigor el 1 de julio de 2017. El nuevo marco regulatorio tendrá un impacto enorme en muchas (multi) nacionales que ejecutan SAP. Los sujetos pasivos afectados tendrán sólo un par de meses para adaptar su ERP a este nuevo escenario lo que constituye un verdadero reto. Si no se realiza en los plazos estipulados las compañías incurrirán en sanciones, incrementando el riesgo de padecer una auditoría fiscal.</strong></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
La buena noticia es que contamos ya con una solución para el SII integrada en SAP. El nuevo marco regulador no es algo nuevo para nosotros, ya que hemos desarrollado en el pasado reciente soluciones similares para Polonia, Lituania y Noruega.</div>
<iframe frameborder="0" height="400" src="http://files.slidesnack.com/iframe/embed.html?hash=bhpfr39u&wmode=transparent&bgcolor=EEEEEE&t=1491284079&type=presentation" style="display: block; margin-left: auto; margin-right: auto;" width="600"></iframe>
<br />
<div class="bg-success" style="text-align: justify;">
Hemos desarrollado una solución mediante la cual la presentación electrónica de los datos requeridos de facturas AR/AP está totalmente integrada en SAP, sin necesidad de una interfaz o software externo. Con esta solución, la presentación de las facturas solicitadas se puede realizar de forma automática y cumpliendo los plazos estipulados. Nuestra solución SII para España está lista y se puede ejecutar a través del propio entorno SAP.</div>
<h2 style="text-align: left;">
¿Cuáles son los aspectos clave del SII?</h2>
<ul>
<li>Suministro de los registros de facturación (no confundir con facturación electrónica) de forma INMEDIATA</li>
<li>Primera piedra hacia la creación del Borrador de Autoliquidación de IVA</li>
<li>De obligado cumplimiento para Grandes empresas, Grupos de IVA y REDEME</li>
<li>Simplificación de las obligaciones informativas (Elimina 347, 340, 390* y Libros Registros IVA) y reducción de los errores en las declaraciones al poder “contrastar” la información con la base de datos de la AEAT</li>
<li>Ampliación del plazo en 10 días para la presentación de Autoliquidaciones de IVA periódicas</li>
<li>Tipos de Libros a comunicar (Facturas Emitidas, Recibidas) y de carácter anual (Bienes de Inversión y Importes en Metálico)</li>
</ul>
<h2>
*La información del 390 que no se puede obtener a través del SII se suministraría como información adicional en los modelos 303 y 322 del último período de liquidación</h2>
<ul>
<li>Plazos 4 días naturales ( 8 durante el 2017) excluyendo del cómputo fines de semana y festivos nacionales</li>
<li>Facturas Expedidas desde la fecha de expedición de la factura</li>
<li>Facturas Recibidas desde la fecha de registro contable de la factura</li>
<li>Importaciones desde la fecha del documento de aduanas</li>
<li>1 Julio 2017 pero existe la obligación retroactiva de envío de los libros del primer semestre del año en el periodo de que va desde el mismo 1 de Julio al 31 de Diciembre (salvo las acogidas al REDEME)</li>
<li>Comunicación de mensajes vía Web Service mediante protocolo HTTPS o Formulario Web</li>
<li>Utilización de certificados homologados por la AEAT</li>
</ul>
<h2 style="text-align: center;">
Quienes somos</h2>
<div style="text-align: justify;">
Hemos desarrollado una iniciativa conjunta con el fin de establecer sinergias para ayudar a nuestros clientes en los desafíos de negocio de SAP. Los expertos en impuestos SAP - KEY Group y Phenix Consulting - forman junto con SNI un partner global de SAP y una compañía de software líder en el área de factura electrónica, e-book, e-archive, e-ticket. Además nuestro partnership con <a href="http://www.convista.com/" target="_blank">ConVista</a> nos permite dar cobertura a nuestros clientes en numerosos países, facilitando la implantación y mantenimiento de nuestras soluciones.</div>
<div style="text-align: justify;">
<br />
La principal actividad de SNI consiste en proporcionar add-ons certificados por SAP para cubrir los requisitos legales en un gran número de empresas ampliamente conocidas. Por este motivo disponemos de expertos senior en el área de impuestos que trabajan conjuntamente con expertos de SAP (funcionales y técnicos), lo que nos permite un tiempo de respuesta rápido y una alta calidad.</div>
<h3 style="text-align: center;">
<span style="color: #333399;"><a href="mailto:Alfred.Roig@ConVista.com?subject=Suministro%20Inmediato%20de%20Informaci%C3%B3n%20(SII)" style="color: #333399;" target="_self">Contact us for more information</a></span></h3>
<hr />
<h2 style="text-align: center;">
<a href="http://www.agenciatributaria.es/AEAT.internet/Inicio/Ayuda/Modelos__Procedimientos_y_Servicios/Ayuda_P_G417____IVA__Llevanza_de_libros_registro__SII_/Ayuda_tecnica/Informacion_tecnica_SII/Preguntas_tecnicas_frecuentes/1__Cuestiones_Generales/3___Es_necesario_algun_tipo_de_homologacion_para_empresas_que_desarrollan_soluciones_que_implementan_funcionalidades_de_los_web_.shtml" rel="noopener noreferrer" target="_blank">AEAT FAQ</a></h2>
Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com0tag:blogger.com,1999:blog-2375771418814886964.post-7445846046278821762017-04-04T02:04:00.001-07:002017-09-20T23:46:07.182-07:00The auditor is not (yet) a risk analystThe term materiality has many meanings and definitions. Boundaries of materiality are primarily determined based on personal estimations. This can be estimations by auditors, risk management departments, company directors, etc.<br />
<br />
The term materiality, used as a quantitative norm, then serves as an approval boundary. Evidently, the materiality used to determine the tax risk appetite of businesses is significantly lower than the materiality used by the external auditor in the annual audit.<br />
<br />
The external auditor’s task is only to provide an opinion whether the annual accounts provide a true and fair representation of the company's affairs. He or she is not asked to provide a statement regarding the accuracy or the acceptability of the submitted return for corporate tax, income tax, VAT etc.
The examples of tax situations listed below should, however, also receive full attention from auditors.<br />
<br />
These stock market listed companies have after all, been obliged based on the SEC rules to report their risks to their investors:
<br />
<ul>
<li>Google avoided €227 million in taxes in Italy. Google paid £130 million to the British tax authorities and agreed to pay higher taxes in the future. In France, the tax authorities demanded €1.6 billion from Google.</li>
<li>Apple paid €318 million as a settlement to the Italian tax authorities after a two-year fraud investigation. Apple missed a deadline to pay €13 million in taxes to Irish authorities in the context of state aid. Due to the special treatment given by the Irish government, the effective tax rate was just 0,05%.</li>
<li>Facebook (FB, Tech30) disclosed that the IRS conducted an investigation into the way it moved assets to an Irish subsidiary to avoid higher taxes. According to Facebook’s SEC filing, the amount totals $3 - $5 billion, plus interest.</li>
<li>Coca-Cola was found to to owe the US tax authorities $3.3 billion, plus interest, based on an audit by the IRS. Profits were incorrectly recognized in foreign countries, rather than the US.</li>
</ul>
In case these tax-related issues are considered individually per county and per company, it could be put into question whether these matters are also material for the auditor. Notably, the media also discuss the reputation of these companies. Any potential reputational damage and/or fiscal uncertainty might impact not only the share price but also external relations including that with the tax authorities.<br />
<br />
The loss of tax income due to the movement of assets to low tax rate jurisdictions is conservatively estimated to total between $100 and $240 billion.<br />
<br />
The amount of media attention, public indignation and political reactions these cases have received – including for instance that of US senator and (former) presidential candidate Bernie Saunders – emphasize the differences in tax morality.<br />
<br />
Why should ordinary citizens comply with tax obligations, while multinationals or soccer players are attempting to avoid paying a ‘fair share’ of taxes by means of tax-saving structures? Both media and politics have given a great deal of attention to cases such as the ‘Panama Papers’, ‘Lux Leaks’, ‘The Netherlands Tax Haven’ and ‘Football Leaks’.<br />
<br />
In the context of an investigation regarding state aid, the European Commission states that providing tax rulings (advance pricing agreements; APA’s) should not result in situations in which some taxpayers pay less than other taxpayers under the same circumstances.
As a result of the Panama Papers, many Corporate Service Providers, shell corporations and advisors are interrogated by the Dutch parliament with regard to tax avoidance and tax evasion.<br />
<br />
These are companies without any significant assets or activities in the Netherlands that solely serve as a vehicle for shifting interest and royalties within international companies. Due to the application of tax treaties, this construction results in a significantly lower corporate taxes.
During his presidential campaign in 2008 Barack Obama illustrated the issue:<br />
<br />
<em>“There’s a building in the Cayman Islands that houses supposedly 12,000 U.S.-based corporations. That’s either the biggest building in the world or the biggest tax scam in the world, and we know which one it is.”</em><br />
<br />
Evidently, we’ve entered a broader discussion, reaching beyond the question of what is tenable based on fiscal laws and regulations. Beside financial risks – that can be material – it concerns reputational damage, which can, as previously mentioned, negatively affect share prices.<br />
<br />
Business operations can thus be fiscally appropriate, complying with tax laws and regulations, yet deemed unacceptable according to societal norms. This is a relatively new phenomenon in terms of reputational risks that affects the risk management from the overarching ‘business control framework’.<br />
<br />
Questions that need to be asked include for instance: does the current business model still fit the ‘reconsidered’ business strategy?<br />
<br />
In terms of tax revenues, a global trend is emerging shifting from direct to indirect taxes. The rates for VAT are increasing, whereas the rates for corporate tax are decreasing. An average multinational has over €5 billion in indirect tax flowing through the business. A mistake of one percent can make the difference between profit or loss. This is material, also for an auditor.<br />
<br />
<h2 style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: rgba(0, 0, 0, 0.85098); font-size: 26px; line-height: 32px; margin: 2.8rem 0px; outline: 0px; padding: 0px; vertical-align: baseline;">
All chapters</h2>
<ol>
<li><a href="https://www.linkedin.com/pulse/tax-relevant-data-tp-vat-why-what-how-richard-h-cornelisse" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">Introduction: Relevant tax data from Transfer Pricing and VAT: explaining the ‘Why’, ‘What’ and ‘How’</a></li>
<li><a href="https://www.linkedin.com/pulse/auditor-yet-risk-analyst-richard-h-cornelisse" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">The auditor is not (yet) a risk analyst</a></li>
<li><a href="https://www.linkedin.com/pulse/new-legislation-uk-tone-top-richard-h-cornelisse?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">New tax legislation in the UK: 'Tone at the top'</a></li>
<li><a href="https://www.linkedin.com/pulse/more-attention-transfer-pricing-richard-h-cornelisse?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">More attention for Transfer Pricing</a></li>
<li><a href="https://www.linkedin.com/pulse/more-attention-vat-richard-h-cornelisse" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">More attention for VAT</a></li>
<li><a href="https://www.linkedin.com/pulse/tax-authorities-demand-more-faster-frequent-data-cornelisse/" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">Tax authorities request more, faster and more often tax data</a></li>
<li><a href="https://www.linkedin.com/pulse/saf-t-increasing-number-countries-richard-cornelisse/?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">SAF-T rolled out in more countries</a></li>
<li><span style="color: rgba(0 , 0 , 0 , 0.701961); font-family: "source serif pro" , serif; font-size: 21px;">'</span><a href="https://www.linkedin.com/pulse/impact-in-house-tax-function-richard-h-cornelisse?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">The impact on in-house tax function' and 'Preaudit before submit'</a></li>
<li><a href="https://www.linkedin.com/pulse/concluding-remarks-towards-shared-responsibility-richard-cornelisse/?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">Realise a joint tax responsibility</a></li>
<li>Read: <a href="http://globalindirecttaxmanagement.com/articles-richard-cornelisse/relevant-tax-data-from-transfer-pricing-and-vat-explaining-the-why-what-and-how.html" rel="nofollow noopener" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">complete article with all chapters and links to follow up articles (in depth)</a></li>
</ol>
<ol>
</ol>
<br />
<div style="text-align: justify;">
Above is a translation of article published in Vakblad Tax Assurance. Dutch version can be downloaded for free: <a href="http://www.vakbladtaxassurance.nl/uploads/tekstblok/vta_2017_01_04.pdf" target="_blank">Download click the link</a></div>
Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com0tag:blogger.com,1999:blog-2375771418814886964.post-72370677784469956172017-03-24T01:09:00.003-07:002017-09-20T23:46:30.563-07:00The tax authorities not only want to receive more tax data, but also faster and more often.Tax moral is shifting. More often what is (still) legally allowed may not automatically be accepted by the public opinion. Reputational damage is imminent.<br />
<br />
Both on direct and indirect taxation the tax authorities have set their priorities. The tax authorities not only want to receive more tax data, but also faster and more often. In addition, there is a tendency to allocate the ultimate tax responsibility at the highest level in a company. Since last year in the United Kingdom the Board of Directors has to sign off the company's tax strategy and also publish the strategy externally.<br />
<br />
Tax departments and the external auditors face due to these 2 tendencies new obligations. These tendencies could however also support change.<br />
<br />
The new data requirements of the tax authorities have to be properly assessed and interpreted from a tax risk management perspective to see whether the data requested contain any uneforeseen and major tax risks. The outcome of such an exercise could also make clear that the company has to reorganize its business and tax processes.<br />
<br />
When all tax disciplines (e.g. TP, indirect tax; etc.) work together a joint responsibility for the overall tax affairs of a company could be established. That might facilitate the buy-in for tax investments.<br />
<br />
When successful tax can take the place it deserves: an important part of a company's business strategy.<br />
<br />
<h2 style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: rgba(0, 0, 0, 0.85098); font-size: 26px; line-height: 32px; margin: 2.8rem 0px; outline: 0px; padding: 0px; vertical-align: baseline;">
All chapters</h2>
<ol>
<li><a href="https://www.linkedin.com/pulse/tax-relevant-data-tp-vat-why-what-how-richard-h-cornelisse" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">Introduction: Relevant tax data from Transfer Pricing and VAT: explaining the ‘Why’, ‘What’ and ‘How’</a></li>
<li><a href="https://www.linkedin.com/pulse/auditor-yet-risk-analyst-richard-h-cornelisse" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">The auditor is not (yet) a risk analyst</a></li>
<li><a href="https://www.linkedin.com/pulse/new-legislation-uk-tone-top-richard-h-cornelisse?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">New tax legislation in the UK: 'Tone at the top'</a></li>
<li><a href="https://www.linkedin.com/pulse/more-attention-transfer-pricing-richard-h-cornelisse?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">More attention for Transfer Pricing</a></li>
<li><a href="https://www.linkedin.com/pulse/more-attention-vat-richard-h-cornelisse" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">More attention for VAT</a></li>
<li><a href="https://www.linkedin.com/pulse/tax-authorities-demand-more-faster-frequent-data-cornelisse/" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">Tax authorities request more, faster and more often tax data</a></li>
<li><a href="https://www.linkedin.com/pulse/saf-t-increasing-number-countries-richard-cornelisse/?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">SAF-T rolled out in more countries</a></li>
<li><span style="color: rgba(0 , 0 , 0 , 0.701961); font-family: "source serif pro" , serif; font-size: 21px;">'</span><a href="https://www.linkedin.com/pulse/impact-in-house-tax-function-richard-h-cornelisse?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">The impact on in-house tax function' and 'Preaudit before submit'</a></li>
<li><a href="https://www.linkedin.com/pulse/concluding-remarks-towards-shared-responsibility-richard-cornelisse/?published=t" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; font-family: "source serif pro", serif; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">Realise a joint tax responsibility</a></li>
<li>Read: <a href="http://globalindirecttaxmanagement.com/articles-richard-cornelisse/relevant-tax-data-from-transfer-pricing-and-vat-explaining-the-why-what-and-how.html" rel="nofollow noopener" style="background-position: 0px 0px; border: 0px; box-sizing: inherit; color: #827be9; margin: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; word-wrap: break-word;" target="_blank">complete article with all chapters and links to follow up articles (in depth)</a></li>
</ol>
<ol>
</ol>
<br />
Above is a translation of article published in Vakblad Tax Assurance. Dutch version can be downloaded for free: <a href="http://www.vakbladtaxassurance.nl/uploads/tekstblok/vta_2017_01_04.pdf" target="_blank">Download click the link</a><br />
<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYZbWrMTcWvkTjQJ82dQrZl8LCi-iOMC4k8vEDrlW1KONinh074DKj20OkdlAzgpKTTAfO-PqYoshXjeXbZmB9LrsOpooDdu_eX3H9CyuATx0TrCyuq3x8rl1WnRvWX5zrYFQl_C4jm00/s1600/header_VakbladTA.PNG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="163" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYZbWrMTcWvkTjQJ82dQrZl8LCi-iOMC4k8vEDrlW1KONinh074DKj20OkdlAzgpKTTAfO-PqYoshXjeXbZmB9LrsOpooDdu_eX3H9CyuATx0TrCyuq3x8rl1WnRvWX5zrYFQl_C4jm00/s640/header_VakbladTA.PNG" width="640" /></a></div>
<br />Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com0tag:blogger.com,1999:blog-2375771418814886964.post-19495808340943364962017-03-16T06:49:00.002-07:002017-03-16T06:49:19.842-07:00Relevante belastingdata vanuit TP en BTW: de ‘Waarom’, ‘Wat’ en ‘Hoe’<div style="text-align: center;">
<strong><span style="font-size: 8pt;">Door Richard H. Cornelisse en Edwin van Loon
Gepubliceerd in Vakblad Tax Assurance</span></strong></div>
<h2 style="text-align: center;">
Samenvatting</h2>
<div class="top-header" style="text-align: justify;">
<strong>De belastingmoraal verschuift. Steeds meer wordt iets wat wettelijk gezien mag, niet automatisch ook geaccepteerd door de publieke opinie. Reputatieschade dreigt. Belastingdiensten worden ook scherper, op zowel directe en indirecte belastingen. Ze willen vaker, sneller en meer gegevens zien. Daarnaast is er een tendens om de eindverantwoordelijkheid voor fiscale zaken hoger in de onderneming te leggen; in het Verenigd Koninkrijk ligt die sinds vorig jaar zelfs al bij de Raad van Bestuur.</strong></div>
<div class="top-header" style="text-align: justify;">
<strong><br /></strong></div>
<div class="top-header" style="text-align: justify;">
<strong>Die twee tendensen stellen eisen aan de interne fiscale afdelingen en de externe accountants, maar bieden ook kansen. De gegevens die de belastingdiensten eisen, zouden door het bedrijf zelf goed gemonitord en geïnterpreteerd moeten worden, om te kijken in hoeverre die gegevens misschien wijzen op ongewenste situaties en te grote belastingrisico’s. Het kan ook zo zijn dat die gegevens duidelijk maken dat het bedrijf er misschien goed aan doet de bedrijfsprocessen anders te organiseren.</strong></div>
<div class="top-header" style="text-align: justify;">
<strong><br /></strong></div>
<div class="top-header" style="text-align: justify;">
<strong>Door samenwerking van fiscale specialisten kan een gezamenlijke verantwoordelijkheid voor het totale fiscale reilen en zeilen van de multinational ontstaan. Van daaruit is een beter zicht op mogelijk gewenste investeringen voor het bedrijf mogelijk. Zo kan fiscaliteit de plaats innemen die het misschien altijd al verdient: als belangrijk onderdeel van het totale overkoepelende ondernemingsbeleid.</strong></div>
<div style="text-align: center;">
<a href="http://www.vakbladtaxassurance.nl/uploads/tekstblok/vta_2017_01_04.pdf" rel="noopener noreferrer" target="_blank">Gratis artikel lezen en downloaden</a></div>
<div style="text-align: center;">
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<div class="separator" style="clear: both; text-align: center;">
<a href="http://www.vakbladtaxassurance.nl/uploads/tekstblok/vta_2017_01_04.pdf" target="_blank"><img border="0" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjohPZvW18Ui6afXDV28v_bvF75ZuskBuOj_ae1kzsMods7NTUqBqNSMIRgtfCWNJj3iF261f74agQhJ-juoYg8w0w9HiknOqXwyVK3ryIWlx2LJ3H3ygd6LUnyiU7yfkYI8tSFFSed1RQ/s640/Screen+Shot+2017-03-16+at+14.16.20.jpg" width="448" /></a></div>
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Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com0tag:blogger.com,1999:blog-2375771418814886964.post-28111174464681880302017-02-26T13:28:00.002-08:002017-02-26T13:28:19.789-08:00SAP add on for 'VAT Smartform PDF' in Poland<blockquote>
<div style="text-align: justify;">
<strong>We offer a new SAP add-on solution that creates automatically the VAT Smartform from SAP. When our SAF-T SAP add-on solution has been purchased this additional functionality will be managed under SAF-T cockpit as a different report.</strong></div>
</blockquote>
<div style="text-align: justify;">
Companies selling across European Union borders have to submit EC Sales List (ESL). This should contain the details of sales or transfers of goods and services to other VAT registered companies in other EU countries summarized per VAT registration number. The tax authorities in the EU use the listings to check whether VAT is declared by the parties involved in cross-border transactions (e.g. no mismatches).</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
In Poland a specific extra local requirement applies. As of 1 January 2017 taxpayers making transactions with EU members will be required to submit mandatory the declaration in electronic format.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The Polish tax authorities provides a VAT Smartform PDF that a company has to fill in with the requested information. That Smartform is mandatory and must be used to meet the requirement. Without automation support the data has to be entered manually by the company.</div>
<div style="text-align: justify;">
Entering data is a time consuming process. Besides the impact on internal resources, such manual activity increases the risk of data errors, i.e. with entering the VAT registration numbers in the Smartform.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Stricter penalties apply for individuals involved in tax fraud and penalties are introduced for taxpayers who do meet the legal requirement of submitting declarations in electronic format.</div>
<br />
Source: <a href="http://globalindirecttaxmanagement.com/home/367-sap-submitting-close-to-real-time-data-to-tax-authorities.html">SAP - submitting close to real time data to tax authorities</a>Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com0tag:blogger.com,1999:blog-2375771418814886964.post-29527949309499050312017-02-24T07:42:00.003-08:002017-02-24T08:39:22.740-08:00In Spain on 1 July 2017: immediate supply of Information to tax authorities in force<strong>In Spain a new VAT reporting system will enter into force on the 1st of July 2017. The new Spanish requirements will have a huge impact on many (multi)nationals that run SAP. </strong>
<br />
<h2>
SAP add on for SII</h2>
<div style="text-align: justify;">
The SAP add-on is based on the selection of the VAT relevant transactions from the SAP ledgers. This can be done manually with a new SAP transaction or in an automated way via scheduled batch jobs. The SII relevant data from the selected source transactions are stored in a new customized SII table. That single source ensures your data integrity and consistency. There will be no need for maintenance of multiple systems as it will all be maintained in SAP itself. All reportable SII data are available via a single SAP cockpit which enables easy (tax risk) management of the SII reports.</div>
<br />
Read more: <a href="http://globalindirecttaxmanagement.com/home/381-in-spain-on-1-july-2017-immediate-supply-of-information-to-tax-authorities-in-force.html">In Spain on 1 July 2017: immediate supply of Information to tax authorities in force</a>Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com0tag:blogger.com,1999:blog-2375771418814886964.post-43775322147188257722017-02-19T11:59:00.001-08:002017-02-24T08:39:51.607-08:00SAP add-on for immediate Supply of Information (SII) in Spain<blockquote class="tr_bq">
<div style="text-align: justify;">
SII (“Suministro Inmediato de Información”) in Spain is about changing the current VAT management system which has been in place for 30 years, introducing a new bookkeeping system for VAT on the AEAT online system, by providing all billing records virtually immediately. </div>
</blockquote>
<blockquote class="tr_bq">
<div style="text-align: justify;">
The new Immediate Supply of Information accelerates the gap between recording or booking invoices and the actual realisation of the underlying economic transaction.</div>
<div style="text-align: justify;">
It is introduced because the current technological situation allows its implementation at this time, to improve both taxpayer assistance as taxation controls (e-tax audits). </div>
</blockquote>
<h2 style="text-align: center;">
SAP add-on solution</h2>
<div style="text-align: justify;">
In Spain a new VAT reporting system will enter into force on the 1st of July 2017. The new Spanish requirements will have a huge impact on many (multi)nationals that run SAP.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Businesses classified as large companies will just have a couple of months left to adopt this new requirement in its processes, controls and systems.<br />
<br />
It will be a real challenge. Failure to comply in time could result in penalties and increased risk of a tax audit. The goods news is that we developed already a SAP integrated SII solution.</div>
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That is not new for us as we have developed similar SAP add-on solutions before when SAF-T in Poland, Lithuania and Norway was introduced. SII is our next step in supporting clients that face IT business challenges.</div>
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We developed a SAP add-on solution by which the e-submission of the required data from AR and AP invoices is fully integrated in SAP without an external interface or use of external software. With this add-on the submission of the requested invoices can be done automatically and in time.</div>
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Our SII for Spain is ready and functionality can be demonstrated via our own SAP environment.</div>
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Read more: <a href="http://globalindirecttaxmanagement.com/home/380-sap-add-on-for-immediate-supply-of-information-sii-in-spain.html">SAP add-on for immediate Supply of Information (SII) in Spain</a>Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com0tag:blogger.com,1999:blog-2375771418814886964.post-64761404047975043542017-02-03T11:24:00.002-08:002017-02-03T11:24:26.841-08:00A SAP add-on to be able to cope with SAF-T and e-tax audits<blockquote class="tr_bq" style="text-align: justify;">
Tax authorities around the world want to receive more frequent and faster tax relevant data for e-audit purposes to analyse Corporate Income Tax (CIT) and VAT positions taken to combat VAT fraud and to determine whether actually a fair share is paid (Base Erosion and Profit Shifting: 'OECD's BEPS').</blockquote>
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More countries will therefore move to data request to monitor and electronic audits (e-audits) taxpayers. SAP itself does not provide an E2E solution to meet these (new) legal requirements.</div>
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More an more countries will implement 'the Standard Audit File for Tax Purposes (SAF-T) developed by the OECD. This format is intended to give tax authorities easy access to the relevant data in an easy readable format. This leads to much more efficient and effective tax inspections.</div>
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E-audits will be performed - using data analytics - on data submitted electronically by the taxpayers.</div>
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<a href="http://globalindirecttaxmanagement.com/home/379-a-sap-add-on-to-be-able-to-cope-with-saf-t-and-e-tax-audits.html" target="_blank">Read more</a>Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com1tag:blogger.com,1999:blog-2375771418814886964.post-40584822602677834152017-01-21T04:05:00.003-08:002017-01-21T04:05:36.727-08:00Do we see tax technology as an enabler or as a 'magic' way to be and get in control?<blockquote>
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<strong>A Tax Control Framework should not operate in silo, but has to be aligned to the company's business control framework (BCF) and should cover more from a tax risk management perspective than only compliance and financial risks. There are various BCF models developed and therefore differences exist between companies.</strong></div>
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That same principle applies when we 'wish' for example to copy paste a 'Best practice tax technology framework' from one multinational to another multinational. The devil is often in the 'implementation' / 'configuration' detail as most of the time it is not 'Plug & Play'. For example the legacy systems, business models and/or the structure of the tax function could be different.</div>
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When we talk about tax control framework do we focus nowadays not too much on compliance and financial risks?</div>
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What has been designed from a tax planning is not always properly implemented or has changed after implementation due to new business initiatives that are an unknown to the tax function due to lack of visibility or disconnect. That could result in material tax risks. Take for example strategic tax risks such as the management of non-routine transactions:</div>
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<li>Open '<a href="https://www.linkedin.com/pulse/converting-sales-middleman-function-from-lrd-richard-cornelisse">Converting the sales middleman function from Commissionaire to LRD</a>' for an example</li>
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Technology might be an enabler to manage such change management process better, but the people element ('the interaction') - especially if many work streams are involved - are the key drivers that together can realise 'being in control' at go-live and beyond.</div>
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Anticipating in time on tax developments and take action 'see the 4 questions I raised and the answer I gave above' is an other example that highlights why managing change is important from a tax control framework as it impacts all the risk categories including reputational, strategic and operational risks.</div>
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Source: <a href="https://www.linkedin.com/pulse/from-tax-strategy-artificial-intelligence-automating-cornelisse">From tax strategy to artificial intelligence to automating the tax adviser | Richard H. Cornelisse | Pulse | LinkedIn</a>Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com0tag:blogger.com,1999:blog-2375771418814886964.post-49049313820188615012017-01-19T04:14:00.002-08:002017-01-20T03:10:31.002-08:00From Artificial intelligence to Robocop to indirect tax<blockquote class="tr_bq" style="text-align: justify;">
I truly love innovation. The sooner the better, but I consider all the stories about artificial intelligence and robotics still science fiction when this is discussed in connection to indirect tax. </blockquote>
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A critical condition for success would be that ERP systems supported by tax technology could actually present real-time all the company's (intercompany) business transactions. </div>
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However, real-time access to a company's blue print is often a recurring bottleneck during business model change (see example '<a href="https://www.linkedin.com/pulse/converting-sales-middleman-function-from-lrd-richard-cornelisse">Commissionaire to LRD</a>').
Certain consultancy firms perform such transaction mapping exercises still via interviews. </div>
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<b>Without access to a complete data set, is artificial intelligence not useless?</b><br />
<h2>
Automating the adviser</h2>
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That being said I think much more can be automated and will be automated. I published in February 17, 2012 my article '<a href="http://globalindirecttaxmanagement.com/articles-richard-cornelisse/is-google-the-adviser-of-the-future.html">Google the (tax) adviser of the future</a>':
[Time stamp 2012!] </div>
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I am following the developments of Apple’s Siri of and of Google in general with great interest. Siri is the speech recognition engine that Apple uses as a virtual personal assistant for their devices. </div>
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The software truly understands your questions, searches the web and provides you with answers immediately. </div>
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Google’s executive chairman, Eric Schmidt, has conceded that Siri could pose a “competitive threat” to the company’s core search business. </div>
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If that is the case, is it not realistic to assume that Google and/or other companies are going to invest a considerable amount of money in developing similar functionalities? </div>
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Such competition between these powerhouses will boost technology improvement.</div>
<ul>
<li style="text-align: justify;">Will such technology in the end truly understand all your technical questions?</li>
<li style="text-align: justify;">Is a virtual personal assistant going to respond immediately?</li>
<li style="text-align: justify;">Is this science fiction or our near future?</li>
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I am aware that some people will argue that certain knowhow depends on individual skill sets and expertise. </div>
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For the moment, they are right, but they might be proven wrong in the future. </div>
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<strong>Can this also be automated? </strong></div>
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What successful examples relate to strategic insight and decision-making? </div>
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Chess is a strategic game and relates on fact-based information (pieces on the chess board: relevant facts) and a number of possibilities (moves: calculation of the impact of various options combined with overall strategic insight).
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<li style="text-align: justify;">If a chess-playing computer, Deep Blue, can beat world champion Gary Kasparov in a six-game match by two to one with three draws against, shouldn’t the automation of an adviser’s strategic decision-making also be possible?</li>
<li style="text-align: justify;">Deep Blue’s successor - Watson - has beaten Jeopardy champions at their own game. What was needed to make that happen: “natural language processing, searching immense data sets and creating relationships among disparate sources of information to finally culminate in an answer.”</li>
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The good news is that the profession of service providing is a people business. </div>
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We like to be connected to people. </div>
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Maybe the statement about automating the adviser is a bit too provocative, but I still believe a lot more can be automated than we can currently comprehend.
Having an open mind is the message I want to get across. </div>
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The only things that probably cannot be automated are our feelings and interactions. </div>
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That is why it is and will remain a people business. </div>
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Last but not least, I don’t pretend to write the strategy plan for Google.
I just admire companies like Google, Apple and Virgin for their innovations and culture. In this blog “Google” represents companies that are technology innovators. The future adviser could therefore be somebody else. </div>
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<strong>Do you agree?</strong> </div>
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Source: <a href="https://www.linkedin.com/pulse/from-tax-strategy-artificial-intelligence-automating-cornelisse?trk=hb_ntf_MEGAPHONE_ARTICLE_POST">From tax strategy to artificial intelligence to automating the tax adviser | Richard H. Cornelisse | Pulse | LinkedIn</a>Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com0tag:blogger.com,1999:blog-2375771418814886964.post-47755028112307219422017-01-19T04:02:00.002-08:002017-01-19T04:02:26.700-08:00From tax strategy to artificial intelligence to automating the tax advise<blockquote class="tr_bq">
Lets just assume that tax transparency and disclosure of tax risks to the tax authorities is mandatory in force in every country and that the effectiveness of a tax control framework should be proven.
</blockquote>
<ul>
<li>Are OECD's Standard Audit File for Tax Purposes data requests (monthly and on request) - now rolled out in various European countries - the start of a new beginning for better audits by the tax authorities?</li>
<li>Is it likely that tax authorities will get access to more sophisticated tax analytics tools?</li>
<li>Do companies need better risk management tools to meet tax objectives set derived from business objectives?</li>
<li>Do companies face additional tax risk due to (close to) real time data requests of the tax authorities - implemented for example in Brasil and will be in force in Spain per July 1, 2017 - and does it impact a company's audit defense, tax risk management, ERP systems and tax technology?</li>
</ul>
Without doubt, the answer to all questions is a resounding yes.<br />
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Source: <a href="https://www.linkedin.com/pulse/from-tax-strategy-artificial-intelligence-automating-cornelisse">From tax strategy to artificial intelligence to automating the tax adviser | Richard H. Cornelisse | Pulse | LinkedIn</a>Anonymoushttp://www.blogger.com/profile/08087985119146923119noreply@blogger.com0