VAT Technology

We help organisations optimise VAT technology across a range of areas.

Enterprise Resource Planning VAT set-up

Enterprise Resource Planning (ERP) systems, tax engines and compliance software should help achieve your company’s strategic goals. A well-designed ERP system should link your business areas transactions with a sound VAT set-up for greater reporting accuracy and efficiency. We can help you build a robust VAT function into your ERP system. This will facilitate simple processes to update for business and VAT environment changes, reduce the level of manual interaction during VAT reporting cycles and reduce the risk of error.

Optimal ERP configuration defined by a complete set of tax codes, a comprehensive set of tax rules to cover all business scenarios and an accurate tax classification of your master data sources, can reduce the time and cost of running a safe and efficient VAT compliance function. Careful consideration of tax requirements need to be made during the assessment of the “as-is”state and it is vital that this is effectively translated during the “to-be” design phase to ensure that effective and efficient VAT functionality is built-in.

Process and controls improvement

Managing your VAT requires a well thought-out approach. VAT is embedded into most business processes, from purchases to sales to logistics. The health of any organisation’s VAT compliance function is dependent on the current processes in place, the capabilities of the ERP system and the people who operate it. By improving your processes you can gain more control over your VAT compliance process, reduce the risk and level of errors whilst reducing cost. We can help you dissect all steps of your VAT compliance process and propose solutions with the view of increasing control and transparency, mitigating risk and further reducing the total cost of compliance.

Data analysis

Indirect Tax reporting obligations (e.g. VAT, ARTD, Intrastat and VIES) can become a real administrative burden if the data processed set-up into, and produced by, your ERP is not accurate. All organisations are faced with complex challenges regarding master data due to an increasingly onerous tax reporting landscape. Driving efficient data processing, storage and analysis policies is critical to ensure the accurate and cost effective management of your taxes. We combine our VAT, IT and business process expertise into an effective and complete data analysis.

Automation of compliance

The health and efficiency of your VAT compliance is measured by the amount of time and resources consumed in producing your VAT return. The automation of your VAT compliance process can significantly reduce the risk of error associated with manual reporting while enabling the efficient reallocation of resources to other challenging areas of your organisation.

Contact us

Johnny Wickham

Senior Manager, PwC Ireland (Republic of)

Tel: +353 1 792 5262

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