How to become compliant with legal requirements worldwide
These days, globalization is transforming businesses in many ways. A major challenge of doing business internationally is to prepare your SAP ECC or SAP S/4HANA system to achieve compliance with the local legal requirements in the countries where you operate. The trend toward a “digital government” has shifted the emphasis away from optional to mandatory electronic tax compliance. All around the world, tax administrations are using technology more than ever before to collect and analyze more data from taxpayers, often in real time or near real time. In the past years, the number of country-specific legal requirements for the electronic submission of VAT-related data to a local tax authority system, has increased significantly: examples are mandatory e-invoicing, VAT reporting, transport registration, e-accounting, etc. that have turned into mandatory obligations in many countries, with severe penalties for non-compliance.
With our Competence Center for Legal Requirements, we are your strategic SAP partner to:
- Design your own global compliance strategy for SAP
- Implement all country-specific legal requirements with standard SAP solutions or own-developed SAP compatible solutions
- Ensure compliance on the long run
Your Compliance Strategy for SAP
Before you start implementing your SAP compliance project, we recommend developing your own SAP strategy to achieve compliance with all relevant country-specific legal requirements for the electronic submission of VAT-related data to local tax authorities. For this purpose, we offer a “Strategy Workshop for Legal Requirements”. We guide you through your compliance journey, analyze your global, corporate challenges and your local, country-specific requirements and make our expert recommendations on the different SAP solution scenarios to ensure automated, end-to-end compliance on the long run.
At the end of the Strategy Workshop, you will have your own Compliance Roadmap with a detailed implementation plan and project planning for the selected SAP ECC or SAP S/4HANA solutions to achieve long-term compliance in all the countries, in which your business operates.
E-Invoicing Compliance with SAP
In this increasingly digital era of globalization, mandatory E-Invoicing continues to grow around the world. Though each country writes its own regulations and has its own specific requirements, Post-Audit and Clearance models are used for the electronic submission of high volumes of transactional line item data in (near) real-time to a local tax authority system.
A few examples are SDI in Italy, SII in Spain, CFDI in Mexico, DIAN in Colombia, RTIR in Hungary, myDATA in Greece, XRechnung & ZUGFeRD in Germany, IRP, in India, the E-Invoicing requirements in Turkey, etc.
As an international business, you are required to comply with the country-specific e-invoicing regulations that are in force in the countries in which you operate. Because of that, it is crucial to implement a strategic SAP solution to ensure compliance on the long run and to manage and monitor all the relevant country-specific e-invoicing requirements within your SAP ECC or SAP S/4HANA system.
Periodic Tax Reporting compliance with SAP
Next to mandatory E-Invoicing in (near) real-time, many countries also impose legal obligations for the electronic submission of VAT-related summary data on a periodic basis (monthly/ quarterly/ annually) to a local tax authority system. A few examples of these periodic reports are the EC sales list, withholding tax reports, SAF-T, VAT return, financial statements, asset reports, foreign trade declarations, etc.
To ensure that your business can keep pace with these changing demands, you need to be ready for digital tax administration where you operate and ensure the accuracy of your tax data. For this, you can leverage your SAP system to manage and monitor all country-specific legal requirements for periodic tax reporting. With our help, you can generate and submit the required country-specific reports, based on your SAP summary data and stay ahead of any legal update.
Your Strategic Compliance Partner
With our Competence Center for Legal Requirements, we are a strategic partner with a Full-Service Approach for Legal Requirements to ensure that your SAP ECC or SAP S/4HANA system and business processes comply with the relevant country-specific legal requirements all over the world on the long run.
We are a team of experts that combine SAP expertise and in-depth knowledge of the end-to-end legal processes and technical requirements of many different legal regulations. We have gathered this experience through our many SAP Document Compliance, SAP ACR and local implementation projects all over the world.
We are a one-stop-shop and guide you through your entire compliance journey for all the countries where you operate.