As tax authorities shift to live reporting, VAT & GST determination demands automation. Here’s how our VAT Calculator ends the pain and huge investment associated with a tax engine
If you are saying ‘Yes‘ to these questions, then we have some great news for you:
- Concerned your EPR, AP/AR or invoicing systems are processing the wrong VAT?
- Put off tax engines because of fear of lengthy and costly implementations, and stuck with hours of manual checks each month before invoicing and/or reporting?
- Worried about months of creating manual use cases with customs rules that will need ERP team and outside consulting help for every more?
- Not sure how your calculation will then be matched to VAT or GST return – how will you transfer and reconcile data?
- Think you will have to purchase a separate VAT reporting application from a different speciality vendor, with another long implementation to support?
- Given up, and just holding out for budget and resources with a major ERP upgrade?
- Concerned about the new wave of e-invoicing requirements that will demand your VAT is right in real-tim?
Our VAT Calculator tax engine will put an end to these worries for three reasons:
- It’s built on tax law, not expensive to set-up and maintain custom codes to match your business;
- Our VATCalc in SAP Cockpit approach means no expensive implementation and ongoing support in SAP or other major ERPs
- AND it is on the same single platform as our returns product, VAT Filer. That means just 1 simple integration to 1 end-point API.
Contact us for a free demo to learn how VAT Calculator has made low-cost tax engines a reality.
4 reasons VAT Calculator is the best tax engine in the market
| VAT Calc's tax engine - operating in days; saving you huge costs and risks on tax liabilities | |
| 1. VAT Calculator is the only global tax engine built on tax laws as opposed to custom rules | Instant implementations for any business! You won’t need expensive consultants spending months adapting it with their fiddly custom rules that require ongoing maintenance. We already have all the complexity of any use case ready-to-go out of the box: triangulation; 2021 EU ecommerce reforms; gig & sharing economy taxes; customs and warehouse exemptions and the rest of your wish list. In fact, a VAT Calc implementation is mostly just building to our API - days instead of months! |
| 2. Using VAT Script, you take complete, real-time control of the rules | Whilst our engine is built from the national tax laws up, you may have requirements that are nuanced to your business. No problem: with VAT Script, our proprietary tax programming interface, which you can be trained-up in minutes, allows you to adapt the assumptions to your business model or interpretation of tax rules. No need to call IT and ERP teams or pay for costly outside help for punishingly lengthy code change-cycles. |
| 3. So good, we built two | You may have already done the tax calculations on large batches of transactions, but you need it verified. Our VAT Auditor application will instantly verify the VAT / GST calculations of any size file, and return line-by-line errors and suggested changes. No complex or expensive integrations. You can make the amendments live in the system, and, if you wish, commit to our VAT Filer. |
| 4. It’s on the same single-platform as our VAT Filer returns service | Not convinced yet? This is the killer feature. Your calculations are immediately reported in the right return and box without any further connections, integrations, or fiddly reconciliations. That's hundreds of hours and thousands in consulting and software costs saved. VAT Calc is the only tax engine with calculations AND returns on the same application. |
Contact us for a free demo to learn how VAT Calculator has made low-cost tax engines a reality.
VAT Calc helps all businesses because it's built on tax laws
| National tax laws, EU VAT Directive or global OECD guidance built-in | |
| All | Rates; standard, reduced, zero and exempt |
| Tax Point - Determination of when the VAT becomes chargeable | |
| Deductibility - Calculation of how much input VAT can be deducted on taxable purchases | |
| VAT groups | |
| B2B Goods | Full cross-border determination on movement of goods, including imports, exports and intra-community acquisitions and dispatches |
| Goods imported into, intended for or supplied whilst in customs procedures or VAT warehousing arrangements | |
| Reverse charges for non-established persons and for risky goods and services | |
| EU Triangulation | |
| Call-off and consignment | |
| Supply of goods with installation | |
| Movement of own goods | |
| Brexit complexity for transactions between NI and the EU and NI and GB | |
| B2C Goods | Low value goods thresholds |
| VAT registration thresholds | |
| EU OSS and IOSS returns | |
| EU and others’ marketplace deemed supplier treatment | |
| EU and non-EU distance selling rules | |
| Services | General rules for B2B and B2C |
| Supplies connected with immovable property | |
| Supplies by intermediaries | |
| Use and enjoyment | |
| All other exceptions to general rules | |
| Digital Services | EU OSS for digital services |
| Local country simplified VAT returns | |
| Financial Services | Partial exemption rules |
Contact us for a free demo to learn how VAT Calculator has made low-cost tax engines a reality.
