Automate your VAT management using a Tax Engine

What is a tax engine?

A tax engine is an application that can be embedded in ERP platforms, enabling the automation of selecting the correct tax codes, minimising errors and consistency due to manual selections. It ensures consistency and standardisation of VAT treatment.

The tax engine helps to identify goods vs. service, different types of service, VAT rates, complex areas of place in supply chains and triangulation, call off- and consignment stock. It collects the parameters from your ERP system; the collected data is processed and recalculated and the VAT determination response will be sent back to the ERP system.

Who can benefit from this tool?

All companies who sells goods or services in multiple countries can benefit from this tool. The tax engine can be used for all type of industries such as the financial industry, retail industry, manufacturing and the medical industry.

Why do you benefit from it?

A tax engine can help the company to:

• Minimise tax research maintenance since the tax engine will provide you with the latest VAT rules. 
• Improve VAT determination accuracy since all VAT policies, VAT rates, VAT rules & logic are enforced by a single tax application.
• Enable company to adapt quickly to changes or new acquisitions without an IT project.
• Ensure a reliable, repeatable AP process, it replaces “user trust” with “system certainty”.
• Improve VAT compliance, since the VAT determination at the time of the transaction will be accurate.
• Improved tax department control, agility and scalability since the tax engine is operated and maintained by the tax department.
• Reduce cost over time since you don’t have to spend time on tax research and re-configuration for every VAT change and business change over the years.