Stay ahead of rapid VAT reporting changes across the globe.

 

With Sovos, global businesses are empowered to tackle the most complex VAT reporting requirements now and into the future.

 

Tax authorities worldwide are using strict reporting requirements to gain more visibility into value-added tax activities to increase collections and close revenue gaps. In fact, E.U. countries alone reported a VAT gap of $159.5 billion in uncollected revenues in 2014. As a result, governments are working to to curb this trend with increased regulations.

 

For businesses impacted by heightened VAT complexities in today’s digital landscape, inaccuracies and human error are a common occurrence resulting from manual processes, and compliance can result in major headaches for IT and tax teams.

 

Sovos VAT reporting offers a way to analyze large volumes of transactional data and validate VAT results efficiently. By significantly reducing processing times, businesses are able to focus on core business strategies and submit required reports with confidence via the Intelligent Compliance Cloud.

 

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Efficiently manage worldwide VAT reporting compliance with confidence.

Data Extraction and Uploading

Data Extraction and Uploading

Extract extensive data from legacy or host system(s) into a single interface when using enterprise resource planning (ERP) systems.

 

Upload existing data from legacy or host system(s) into SaaS-based import templates to process multiple extracts at once and in seconds.

Automated Processing and Real-Time Updates

Automated Processing and Real-Time Updates

Generate returns automatically, as well as listings and intrastate returns

 

Stay updated on reporting changes and updates for over 30 countries and counting

 

Automated multi-jurisdictional coverage and regulatory updates ensure your compliance efforts are always up to date

Data Accuracy, Analytics and Reporting

Data Accuracy, Analytics and Reporting

Automatically adjust, add, validate and correct data based on custom accuracy settings.

 

Real-time VAT number validation referenced against the E.U.’s database

 

Workflow management and archiving tools streamline process and provide easy access to records.

 

Changes are automatically logged for a seamless audit trail

Reduce VAT Reporting Burdens for IT

Reduce VAT Reporting Burdens for IT

Decrease processing times tremendously with enhanced accuracy and consistency

 

Integrate VAT reporting processes within any legacy host systems

 

Mini One Stop Shop (MOSS) reporting and audit capabilities

The Sovos Difference

“They [Sovos] seem to always know what’s coming, and they are well out ahead of the deadline so you know what the solution looks like and what will be delivered. They are very proactive.”
— Billy Sparks, senior SAP COE manager, Lexmark

Customers