Sovos SAF-T Extraction

Save Time and Reduce Data Extraction Cost Required for SAF-T Report Preparation

AUTOMATE DATA EXTRACTION FROM SAP

Remove the pain of getting data into diverse country SAF-Ts with changing schemas.

The data needed to complete a SAF-T report is diverse. It ranges from accounts receivable and accounts payable data, such as billing and purchasing documents, to accounting data found in general ledger entries. It can also include information about fixed assets and inventory, more often associated with the annual financial statement than with VAT returns and other VAT-related periodic declarations. Getting such large quantities of varied data (depending on the country, this can be as extensive as 1,000 fields) from across different modules in SAP or from multiple SAP instances, using traditional extraction methods is both time-consuming and labor-intensive. 

Sovos automates extraction of your data from SAP as a first step to preparing a compliant SAF-T report. This frees up SAP experts to focus on more strategic IT initiatives that affect your business. We continually track changes to different jurisdictional SAF-T requirements and ensure these are codified in the Sovos SAP Framework that extracts data for mapping to the approved legal structure.

If you opt to extract your own data for SAF-T generation in SAP or have other ERP/source systems, we have complementary modules in our triple play SAF-T solution to help you achieve accurate and robust SAF-T output.

You can also present your data to us in various electronic formats (e.g., CSV, TXT) then use both SAF-T analysis and SAF-T generation to ensure the SAF-T file you plan to submit meets the expectations of the relevant tax authority. 

Alternatively, if your data is prepared in the legal SAF-T XML structure for the specific jurisdiction, it will be ready to be validated using our SAF-T Analysis module.

Automatically extracted data pushed to the Sovos APR cloud for mapping to the relevant country-specific SAF-T file

Eliminate need for a bespoke solution designed, built and maintained by SAP experts

Update extraction requirements as SAF-T expands to more jurisdictions

Align to APR SAF-T common data model, which covers the full requirements of the OECD’s revised standard SAF-T schema from 2010

Ensure the data extracted is always aligned with country-specific schema requirements as existing SAF-T obligations evolve

Build up the required data gradually, by extracting the required data on an ongoing basis, rather than waiting for the end of a reporting period or a request from the tax authority

Use Sovos’ complementary SAF-T analysis and SAF-T generate modules to review the data integrity and make any necessary adjustments well ahead of SAF-T reporting deadlines

Reduce costs of data extraction and consolidation

Sovos SAF-T Analysis

Assess Accuracy, Integrity and Data Quality to Ensure Compliance with Country-Specific SAF-T Obligations

FULL VISIBILITY, USER-FRIENDLY INTERFACE

Automate the process of preparing robust and accurate data structures required for tax and compliance purposes, including SAF-T

A VAT return, like an annual financial statement, consolidates and summarizes lots of information in a format that can be easily read and interpreted. By contrast, a SAF-T report compiles large quantities of diverse data in an XML format. A company’s SAF-T report can be used for audit purposes, with the tax authority referring to it as a primary source against which all historical tax returns are queried. Ideally, SAF-T data determines whether fraudulent practices or transactions have taken place. However, the format, origins and volume of SAF-T data makes it very challenging for companies to evaluate and interpret what is sent to tax authorities. This unknown creates a major risk for companies, their accountants and advisors.

As part of Sovos’ SAF-T triple play, integral analysis provides a human-readable view of otherwise indecipherable SAF-T data. A summary of findings is presented in a user-friendly interface, pinpointing information inconsistencies and tax anomalies that may expose business problems. Through this deep analysis of structured data, Sovos powers internal due diligence to ensure organizations achieve compliance peace of mind. 

Sovos uses a broad set of rules and tests to check the accuracy, integrity and quality of data that’s intended for any SAF-T report. The checks look for errors in syntax and calculations, as well as ensuring statistical and logical consistency. After the SAF-T report is generated, Sovos analyzes the structured file, giving organizations confidence the XML will be accepted by the tax authority without further scrutiny.

Maximize operational efficiency by revealing information inconsistencies and tax anomalies that may hinder business progress

Decodes SAF-T data and presents results in a standard, logical way that’s readily interpreted and understood prior to submission.

Advances preparedness for inevitable inspections and audits by improving data quality and accuracy as a result of data checks on an ongoing basis.

Pinpoints the source of errors through root-cause analysis, enabling ongoing, seamless navigation through all data. This includes immediate on-screen access to information, such as invoice issued, product sold and account balance when consulting a specific customer account.

Allows audit notes (e.g., explanations, justifications, actions required) to be added to a specific document, error or finding (e.g., billing later than shipment). This guides internal teams on any necessary operational changes and increases transparency by recording contextual information that can be readily accessed during subsequent audit or tax inspection.

Ensures alignment between SAF-T data, financial statements and other interim KPIs that are reported to executive-level stakeholders.

Enables navigation through reports and transactions referenced in the SAF-T data, automating previously manual tasks with live updates.

Mitigates risks of tax exposure/possible disputes, automated checks that mimic automated analysis run by tax administrations on the same data set, and allows any data outliers to be addressed prior to submission.

The Sovos SAF-T Analysis module can be used to check and validate the contents of a SAF-T report, whether the Sovos SAF-T Generate module has been used to compile the file or if it’s been generated in another way. 

Sovos SAF-T Generation

Produce Full Range of SAF-T Reports Compliant with Different Jurisdictional Requirements

KEEP PACE WITH EVOLVING SAF-T SCHEMAS

Generate SAF-T output, ready for timely submission

The Organization for Economic Co-operation and Development (OECD) first introduced the Standard Audit File for Tax (SAF-T) in May 2005. Since then, a growing number of tax authorities have embraced it as a way to get a broad view of companies’ tax affairs. Many of the countries that have introduced SAF-T so far have also applied their own individual interpretation of the original, or subsequent 2010 version, of the SAF-T structure. However, the quantity of diverse data required by these unfamiliar, jurisdiction-specific SAF-T schemas makes it challenging for companies to meet their obligations. A tax authority’s request also leaves a relatively short window for companies to collate the data and present it in the prescribed format, especially if they need to do this across jurisdictions and in different formats.

Sovos SAF-T generation maps data into the correct schema, ensuring that format requirements are met. There is also the value of our complementary SAF-T analytics to ensure the final SAF-T generated comprises robust data and is truly submission-ready. This powerful combination of modules in the Sovos SAF-T solution provides peace of mind that the SAF-T report sent to the tax authority will satisfy its requirements for more detailed information, without need for additional scrutiny.

Consolidate and present data in country-specific, legal XML structures

Deliver the outputs required by each individual tax authority that has introduced SAF-T

Expand coverage as new jurisdictions introduce a SAF-T requirement

Ensure data is fully consolidated from all relevant sources to generate the SAF-T report in the correct legal structure

Produce valid, submission-ready content when used in conjunction with APR SAF-T analytics.

Provide a repository of the SAF-T files generated, so they can be accessed at a later date.

Used together with Sovos’ SAF-T Analysis module, with its application of data accuracy and fraud inference rules, this ensures appropriate action can be taken to address any anomalies and correct or explain errors. It also provides greater assurance that SAF-T submission will not result in further tax authority scrutiny. 

Sovos SAF-T Solutions

Save Time and Effort Preparing Audit-Proof SAF-T Files that are Complete and Submission Ready

DATA EXTRACTION, ANALYSIS AND FILE GENERATION

Automate the process of preparing robust, accurate and compliant SAF-T files

SAF-T (Standard Audit File for Tax) is an international standard for electronic exchange of reliable accounting data from organizations to a national tax authority or external auditors. Tax administrations use it to gather more granular data from businesses on either an on demand or periodic basis. Sovos can manage all SAF-T requirements across multiple jurisdictions through automated processes that seamlessly extract required data, map data accurately to SAF-T structures in the latest legal formats and perform deep analysis on SAF-T output generated.

Sovos provides certainty with a future-proof strategy for tackling compliance obligations across all markets as indirect tax (VAT) regulations evolve toward continuous e-reporting and other continuous transaction controls (CTCs) requiring increasingly granular data. Sovos’ solution for SAF-T combines extraction, analysis and generation providing our customers with the certainty they need.

Experience end-to-end handling for compliance peace of mind with Sovos’ SAF-T triple play

Enhance decision-making with full visibility of system data through an intuitive and user friendly interface.

Assess accuracy, integrity and quality of data to ensure compliance with each country’s distinct SAF-T obligations.

Perform cloud-based platform diagnostics of your financial and tax health.

Review ERP source data to determine if errors originate with extraction/mapping or system configuration.

Conduct forensic tests to pinpoint possible anomalies in your data.

Analyze syntax accuracy to ensure file compliance and the integrity and quality of the data.

Maximize operational efficiency by identifying tax anomalies that may cause business problems.

Ensure alignment between SAF-T data and financial statements in advance preparedness for inevitable inspections.

“Sovos alleviates our workload by handling data extraction from our SAP and generating the required SAF-T file. They perform a detailed analysis on the SAF-T file that’s generated to ensure anything a tax administration might identify as problematic is dealt with or explained prior to submission.”

Maximise efficiency with the first end-to-end solution for IPT

Automate jurisdiction-level summary reporting, remittance & payment for insurance premium tax.

Centralise Data & Guarantee Accuracy

Sovos IPT Reporting

Sovos is serious about regulatory analysis. It is a foundational core strength of our company around which we have built agile software solutions and a global infrastructure.

Sovos IPT Reporting is the processing engine that reports on and generates tax returns needed for insurance premium tax compliance on a global basis.  Combined with Sovos IPT Determination and our managed services, it provides the first complete compliance solution for insurance premium tax.

IPT Specialists

Support when you need it

We appreciate that some IPT obligations may sometimes require human intervention and additional analysis. That’s why our team of specialists work with you to review insurance policy data and validate premium taxes as appropriate to eradicate errors and provide a complete enhanced solution. Our multi-lingual team has long established relationships with the tax authorities to ensure a thorough understanding and interpretation of local rules for your compliance.

Easing the burden of tax compliance​

Expand IPT knowledge

  • Coverage of 50+ jurisdictions with increasingly global content
  • Detailed information on declaration and reporting requirements
  • Team of specialists fluent in 20+ languages and local regulations

Integrate with end-to-end efficiency

  • Calculate and report IPT across multiple locations with various local regulations via a single tool
  • Ensure audit defense with archived data
  • Encrypt and manage your data within a robust and secure environment

Compliance confidence

  • Perform data enrichment rules to fill-in gaps
  • Ensure reports are always submitted on time with filing calendar
  • Stay ahead of changes with notification alerts

E-Arşiv-Invoice Compliance

Send invoices to companies, other end users and taxpayers that may not have registered in the e-invoice system.

TAX COMPLIANCE SOFTWARE FOR TURKEY​

Turkey e-Arşiv Invoice

Sovos e-Arşiv Invoice solution offers complete compliance for the Turkish B2C e-invoicing mandate. Connecting directly from your environment, or via our cloud API, our solution is designed to make your payment and collection processes more efficient.

It provides full visibility of your outbound invoices and digitally stores the e-arşiv invoices for ten years, eliminating physical archiving costs.

With support from our team of local language VAT experts and our regulatory specialists monitoring and interpreting the regulations, our solutions stay dynamically updated in real-time.

Sovos e-Arsiv Invoice provides compliance peace of mind, as well as keeping you prepared for tomorrow.

Feature List

Integration

• Integrates with most accounting software using flexible API
• Manage all processes on SAP without need for additional software and/or hardware

Simplicity

• Easy to use cloud portal showing all invoices in one place (desktop and mobile)
• Eliminates manual process costs: hardware, ink and delivery
• Digitally archives for ten years removing physical storage costs

Reliability

• Creates and sends digital invoices quickly speeding up the payment process
• Improves business to customer invoicing process and reduces risk of manual errors (including direct send via the software)

Support

• Continually monitors the TRA keeping you up to date with regulatory changes

E-Delivery Note Compliance

From 1 July 2020 e-Delivery Note takes effect for businesses with annual sales revenue above TRY 25m.

Digital Transformation in Turkey

Turkey e-Delivery

Sovos e-Delivery Note fully complies with Turkey’s e-delivery note mandate. Connecting directly from your environment, or via our cloud API, our solution is designed to speed up your distribution and audit processes.

Sovos e-Delivery Note provides full visibility of all your delivery notes as well as the status of each one helping you keep track of the shipment process via the barcode on sent e-delivery notes. It allows instant access to all data, eliminating the possibility of deliveries being lost.

Sovos e-Delivery Note solution for Turkey provides compliance peace of mind, as well as keeping you prepared for tomorrow.

Feature List

Integration

• Integrates with most accounting software via flexible API

Simplicity

• Easy to use cloud portal showing all of your delivery notes in one place (desktop and mobile)
• Eliminates the cost of manual processes: hardware, ink and delivery
• Archives digitally for ten years removing physical storage costs

Reliability

• Creates and sends electronic delivery notes and receives replies instantly, accelerating the shipment process
• Strengthens business shipment process and reduces risk of human errors (including direct send via the software)

Support

• Continually monitor TRA regulatory changes, and keep you informed with real-time updates

E-Ledger Compliance

Store your ledgers electronically and reduce your carbon footprint with our e-ledger platform.

ONE PLATFORM FOR FLEXIBLE, SCALABLE E-INVOICING

Turkey e-Ledger

Sovos e-Ledger fully complies with the Turkish e-ledger mandate. Connecting directly from your environment, or via our cloud API, our solution is designed to digitize the process of keeping and archiving cash ledger information – including ledgers stored with other vendors. It provides full visibility of your data with secure archiving for ten years.

Sovos e-Ledger solution for Turkey provides compliance peace of mind, as well as keeping you prepared for tomorrow.

Feature List

Integration

• Flexible integration with most accounting software using API

Support

• Meets all requirements, standards, and formats defined by TRA
• Upload basic file formats manually
• Upload and archive previous ledgers
• Ensures compatible information transfer between private and public institutions
• Continually monitor TRA regulatory changes, and keep you informed with real-time updates

Reliability

• Access ledger data anytime, anywhere
• Fast and secure structure to access and check the ledgers
• Minimizes the risk of penalty from TRA by checking the schema before submitting

Simplicity

• Reduces costs by eliminating related hardware costs
• Digitally archives for ten years removing physical storage costs

Simplify Tax Determination For Every Transaction, In Any Jurisdiction

As indirect tax goes digital around the world, you’re now in a race to stay ahead.

Indirect Tax Software Solution

Global Tax Determination

You need accurate rates for value-added tax (VAT), goods and services tax (GST), and sales and use tax. You need to be right every time — in real time — no matter how often rates change or how many product and jurisdictional combinations you’re managing.

By combining VAT, GST, excise, and sales and use tax determination support in a single solution, Sovos safeguards businesses from error-triggered audits, while keeping your systems up to speed with constantly changing determination rules.

Feature list

Real-time tax calculation

Get automated, accurate VAT, GST, and sales tax rates and rule updates for more than 185 countries, state and local jurisdictions for all sales and purchases. Sovos Global Tax Determination includes thousands of unique product codes and industry-specific content, product types and scenarios, including variables like caps and thresholds, drop shipments, tax holidays or project exemptions to stay compliant despite the most complex scenarios.

Centralised database

Easily consolidate your data for accurate tax calculation within a single system.

Simple integrations

Maximise resources by standardising and centralising data, reconciliations and reporting processes through certified adapters for SAP and Oracle and many other ERP, ecommerce and purchasing systems. Flexible REST API enables real-time calculation with any system.

Optimal cloud performance

Backed by the Sovos Intelligent Compliance Cloud and S1 Architecture, Global Tax Determination delivers instant tax calculations even during peak transactional periods, like Black Friday and Cyber Monday. Flexible deployment options ensure 100 percent up-time and performance.

Customers

eInvoicing compliance

E-Invoice compliance enables you to efficiently create and send invoices in a digital environment; providing compliance peace of mind today, as well as preparing you for tomorrow.

Tax Compliance Software for Turkey

Turkey e-Invoice

Sovos e-Invoice provides full compliance with Turkey’s e-invoicing mandate. Connecting directly from your environment, or via our cloud API, our solution improves efficiency by speeding up payment and collection processes and providing full visibility of the status of your individual invoices.

Our team of regulatory specialists and fiscal representatives constantly monitor and interpret tax regulations around the world. Our software is then dynamically updated in real-time enabling you to focus on what matters to your business, knowing we have your tax compliance requirements covered.

“Sovos solved our e-invoice issues in less than a day. Sovos is really excellent in technical support.”

Murat ÖZTÜRK, Accounting Manager

Celal Sölluklu Petrol

Feature List

Integration and scalability

• Integrates with most accounting software using flexible API
• Accepts a range of different data formats
• Manage all processes on SAP without any need for additional software and/or hardware

Minimise errors

• Ability to monitor all your invoices in one place (desktop and mobile) via easy to use cloud portal
• Removes manual process costs such as hardware, ink and delivery
• Preserve your IT resources with easy-to-use software that requires little to no IT involvement

Reduce Risk

• Issues digital invoices quickly, speeding up the payment process
• Improves business invoicing process and reduces the risk of manual errors (including sending directly from your ERP)
• Digitally archives for ten years preventing the invoice loss

Support

• Continually monitor TRA regulatory changes, and keep you informed with real-time updates

The Digitisation of Tax Isn't Just for B2B or B2G Anymore.

Get ready for eReceipts.

A GLOBAL SOLUTION FOR RECEIPT CLEARANCE

Keep up with evolving mandates with Sovos eReceipts.

As e-invoicing has swept the globe, in particular Latin America and Europe, you’ve had to adapt to new mandates covering first B2G and then B2B transactions. Now, a third wave is emerging: business-to-consumer (B2C) mandates for e-receipts.

With e-receipts, each purchase your customers make is available in a portal accessible by those consumers and the local tax authority. Governments can ensure they are enforcing, and you are charging, the correct tax. While e-receipts represent another global tax mandate, the digitisation of tax in the B2C realm also presents an opportunity for efficiency, cost reduction, environmentally friendly business practices and even additional value for your customers.

The first global solution for receipt clearance

Neutralise the risk of financial penalties and maximise efficiency. Rid yourself of the burden of incorporating new mandates into your e-receipts reporting processes. Trusted by more than half of the Fortune 500 in 120 different countries, Sovos offers unmatched experience in solutions for real-time reporting requirements around the world. 

Neutralise the risk of financial penalties and maximise efficiency

Solving tax anywhere you do business

Integration with Sovos eInvoice and eArchive for an end-to-end solution that covers you anywhere you do business

Global reach

The largest clearance network in Latin America and world-class regulatory analysis

Endpoint certification

Endpoint certification in all markets that mandate it

Unparalleled industry expertise

Experience, with more than a decade of worldwide, real-time transaction processing

In the business platforms you already use

Solutions embedded in more than 65 vendor platforms

Speaks your language

Support in English, Spanish, or Portuguese

E-Invoice Archiving for 60+ Countries

There is no audit protection without e-archiving.

PROTECTING YOU FROM SUDDEN AUDITS

Universal, compliant e-invoice archiving for 60+ countries

Tax administrations across the world are spending billions on invoice control systems, putting pressure on you to implement e-invoicing compliance in a consistent, scalable and cost-effective manner. You can’t start thinking about this without e-archiving at the centre of your plans. 

E-invoicing rules vary from country to country, but the common denominator nearly everywhere is the requirement to archive the "original" invoice.

Sovos eArchive provides universal, compliant e-invoice archiving for more than 60 countries, including country compliance maps, preservation sets, timestamps and signing and validation services. Post audit capabilities protect you from sudden audits and are automatically updated with local compliance requirements tracked by Sovos experts. 

Sovos eArchive provides:

  • Global reach via a single API in clearance and post-audit countries
  • Flexible integration to any ERP system, third-party archive, P2P solution or EDI function
  • Support for custom and mandatory data with up to seven attachments, ensuring all required attachments, search criteria and other needs are archived 
  • The original invoice in its government-mandated schema, including XML, PDF and others
  • Storage of related attachments such as human-readable PDFs, previous audit results and attached documents
  • Organisational custom tags, allowing for quick searching and other non-audit-related tasks, like legal reviews and accounting look up
  • Country-specific security and rehash requirement solutions in countries where they are required, for example, Hungary and Italy
  • Defense against the normal wear and tear of archive access sessions due to audits, file retrievals and other actions
  • Authorised use and viewing of records
  • An audit trail, with tracking of who can access an archive 
  • Alignment with industry best practices, such as eIDAS, GDPR, ISAE 3402 Type II and encryption when at rest or in motion
  • Immediate tax proof with a single source of truth during audits, making invoices easy to find
  • Change management, with a solution constantly updated, maintained, and tested in all covered territories

Customers

The First Global Solution for E-Invoicing Compliance

Get ready for modern tax with Sovos eInvoice

ONE PLATFORM FOR FLEXIBLE, SCALABLE E-INVOICING

Global e-invoicing compliance

With the rapid pace of globalization, governments all over the world are now leveraging technology to close tax loopholes. Though each country differs in specific requirements, the shift toward real-time e-invoicing is transforming business-to-government compliance at every point in the supply chain–and leaving businesses scrambling to turn continuous tax compliance to their advantage.

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Compliance-related issues and errors can cost you time and eat into your profits. Accuracy is more important than ever.

Sovos eInvoice simplifies global e-invoicing compliance, supported by our in-depth local knowledge to keep you up to date in today's constantly changing regulatory environment.

AR & AP invoice management

Manage accounts receivable and accounts payable invoicing mandates within one platform and stay compliant with both processes, when submitting invoices to clients, and validating invoices when received from suppliers.n

VAT Reporting

Guarantee compliant VAT reporting by using the same data set of both AR and AP process.n

Data extraction & mapping

Identify all fields required for fiscal compliance and map them to the correct XML schema defined by the local tax administration.

Global transmission & government connectivity

Connect to more than 60 tax administrations covering B2B and B2G requirements with a secure, certified connection.

Validation

Analyze issued and received invoices and syntactically validate them to ensure the XML document meets local tax authorities' technical specifications.

Invoice monitoring

Track invoice statuses and rejection notices, view audit trail, and view attachments in both XML and PDF formats. You'll also get visibility into invoices and report statuses all within one platform, so your team can minimize errors and risks, and monitor approved and rejected invoices.

Automated printing

Output legal invoices, including requirements for logo, special bar codes and signing data.

Guarantee authenticity & integrity

Ensure invoices have digital certificates delivered by certified authorities who are accredited by local tax authorities.

Flexible end-to-end integration with any ERP

Establish data integration processes with internal systems to automate the issue and receipt of all invoices. Solution adaptability lets you drive integration with any ERP on the market.

Contingency management

Guarantee your business operations will continue despite any government system failure.

Customersn

Complete IPT Compliance for Insurers

Benefit from technology and streamline IPT determination

Sovos has over 20 years of demonstrated success in IPT compliance with the world’s most complex insurers

Boost tax capability

with an intuitive IPT calculation tool to ease the burden of inhouse tax research and removing the need for additional internal resources

Protect margins

by reducing penalties and only paying what is required

Automate data and workflows

between client underwriting systems and streamline processes with API integration capabilities

Protect your business

from financial and reputational risk by improving adaptability and dealing with fast-changing regulations confidently

Bolster audit defense

with complete and transparent audit trails

Simplify operations

by managing all IPT compliance needs with one global vendor
IPT DETERMINATION COMPLIANCE SOFTWARE

Safeguarding insurers from the risks of noncompliance

For cross-border insurers, navigating the complex insurance tax landscape across multiple jurisdictions can feel overwhelming.

Tax authorities continue to take measures to boost revenues, increase efficiency and reduce fraud.  There’s a notable shift towards digital insurance premium tax (IPT) reporting, placing an additional burden on insurers.

Sovos IPT Determination

Combined with IPT Managed Services, we offer the first virtual end-to-end IPT compliance solution.

Sovos IPT Determination enables non-tax experts to confidently calculate and apply global IPT rates at quotation.

The solution is updated in real-time, so the tax rates and tax applicability are always accurate. And this also applies to filing requirements easing the strain of changing filing requirements and settlement deadlines.

Sovos IPT Determination is centered around a detailed, real-time global database of IPT tax data for over 80 countries, including millions of jurisdictional and product combinations – ideal for insurers writing complex global programmes.

Sovos IPT Determination builds premium allocation ahead of all policies such as renewal of international programmes. It allocates premiums per territory covered, intuitively supporting the entire underwriting process by accurately identifying, calculating, and applying the appropriate taxes at quote stage.

Book a Demo

See for yourself how Sovos IPT Determination can take care of the details of IPT compliance.

Sovos IPT Captive

Built specifically for the Captive market, Sovos IPT Captive allows you to track your programmes from renewal through to settlement. Combined with our managed services, it is the first end-to-end IPT compliance solution built for Captives.

Features that make Sovos a market leader in IPT compliance

  • Real-time tax calculation solution with automated updates to rates and rules for IPT plus parafiscal charges
  • Tax liability – clarity on who should pay and administer taxes such as Insurer-borne taxes or Insured-borne taxes
  • Covers Co-Insurance programmes
  • Adaptable solutions fit your processes through bespoke insurance product mapping
  • Duplicate quotes for renewal with ability to copy existing quotes with current tax point date for renewals saving time
  • Download tax schedules via pdf or excel
  • Ability to submit software queries or tax related queries to support
  • Complex calculations simplified such as Spain CCS, Portugal Stamp Duty
  • Ability to search, view and manage colleague quotes through permission matrix with admin functions
  • Handles both admitted and non-admitted calculations for Global Programmes
  • Global tax database of 80+ countries
  • Tax calculation API for integration into your systems and process
  • Integrated IPT Reporting with ability to push quotes for filing*

We appointed Sovos for their IPT Managed Services. During this time, we have found their level of knowledge, expertise and attention to detail to be superb. They understand our product so can quickly and accurately identify the most appropriate tax treatment. This has undoubtedly saved us a considerable amount of time and money. Through their IPT software, they have significantly helped to increase our efficiency and accuracy giving us total peace of mind that our returns are filed on time, every time and are compliant. We would absolutely recommend them

Carla Forafò

Deutsche Post DHL Group – GBS, Insurance & Risk Management

Sovos Advanced Periodic Reporting

Streamline periodic reporting obligations with a future-proof VAT and SAF-T compliance solution

A VAT and SAF-T solution for compliance peace of mind

Sovos’ Advanced Periodic Reporting (APR) is a cloud solution that mitigates the risks and costs of compliance, future-proofing and streamlining the handling of customers’ periodic reporting obligations using data to deliver insights that power performance enhancement. The solution automates, centralises and standardises the preparation, reconciliation, amendment and validation of summary reports for tax authorities across VAT jurisdictions around the world.

Advanced periodic VAT reporting business software

Global Coverage

Automates Complex End-to-end Processes

Future-Proof Your Tax

Real-Time Updates

Distinct Audit Trail

Save Time

Never Miss A Deadline

Data-Powered Insights

Comprehensive Error Checking

SOFTWARE FOR VAT AND SAF-T COMPLIANCE

Streamline your periodic reporting obligations

VAT is one of the fastest growing and rapidly changing indirect taxes. It’s a longstanding consumption tax whose popularity continues to grow.  With governments becoming bolder in introducing structural changes to the way they regulate and enforce VAT reporting, complying with ever changing and fragmented VAT rules can be challenging.

Companies with periodic reporting obligations across multiple jurisdictions face an ongoing cycle that requires data to be extracted, processed, reconciled, summarised and validated to meet a constant stream of deadlines.

Global and multinational companies with stretched resources want to automate, centralise, and standardise the processes needed to meet their periodic reporting obligations around the world, across both VAT and SAF-T.

This is a valuable first step in getting ready for the broader impact of tax administrations’ digital transformations for tax enforcement on business practices.

Advanced periodic reporting

Sovos APR saves you time. It empowers your tax and shared services teams to meet VAT reporting requirements and new VAT rules compliantly, efficiently and accurately wherever you operate. Our advanced and comprehensive software provides global coverage, giving you compliance continuity from Sovos wherever you have periodic reporting obligations.

Sovos APR powers a series of dashboards, trend analysis and reports providing you with valuable operational and strategic insights to ensure you are always on track with the output needed to meet  your VAT obligations on time.

Sovos APR addresses extensive tax authority periodic reporting requirements across both EU and non-EU jurisdictions including VAT returns, EC Sales and Purchase Lists, Intrastat Declarations, complex reports (including SAF-T) and other country specific declarations.

MANAGED SERVICES

Technology enabled VAT managed services

A blend of human expertise and software to ease your VAT compliance workload and reduce risk wherever you operate today while ensuring you can easily flex to handle VAT requirements in the markets you intend to dominate tomorrow.

Using software to reduce the burden of VAT reporting obligations

Reduce total cost of VAT compliance

With a single provider for all global VAT reporting to automate manual tasks, standardise processes and reduce the need for outsourcing

Protect your business

By mitigating the risk of reputational damage or financial penalties when manual processes result in errors or missed deadlines

End-to-end handling

With automated data extraction and mapping to the latest VAT declarations, gathering, enhancing, analysing and reconciling VAT and logistical data from ERPs has never been easier. And for tax authorities that permit direct filing to their portal, Sovos APR can directly integrate with these too

Enhance decision making

With access to a dashboard view of summary data, trend analysis and detailed reports that can be used to drive strategic and operational decisions

Future-proof strategy

Partnering with Sovos not only provides compliance peace of mind for VAT and SAF-T reporting, it arms companies with insights to help ensure their processes are ready to produce the accurate, time-sensitive data demanded by continuous transaction controls

Save time

By automating with best-in-class processes from extraction through to filing

Monitor global VAT regulations

Sovos regulatory experts stay ahead of global tax updates, new VAT rules, new schemas and changes to ensure our software is always up to date

Maximize operational efficiency

By automating tax compliance processes and streamlining manual processes, resources can be redeployed to handle more strategic deliverables

Continuous Transaction Controls

Manage Your CTC Obligations with a Global Compliance Solution Built On Local Expertise

Automate Your CTC Compliance Management

Standardize on tax technology with continuous legal monitoring to power compliance across all business processes.

Tax administrations continue to insert themselves into the invoicing process or demand detailed records within a matter of hours or days of transactions. Sovos empowers you to comply with a cost-effective, secure, global solution to withstand the disruption of this global continuous transaction controls (CTC) trend.

Adopt a consistent global compliance strategy that scales across all jurisdictions and enterprise systems by connecting flexibly to a single provider, regardless of legal and business changes. Sovos’ VAT Compliance Solution Suite includes both CTC reporting and CTC e-invoicing as integral components of a fully scalable solution suite and includes Sovos Periodic Reporting, SAF-T and Sovos eArchive.

Stay ahead of current and future compliance obligations.

Monitor 60+ countries to track the diverse range of emerging legal frameworks and evolving specifications.

Simplify compliance vendor relationship management with a single, global point of contact.

Ensure invoices continue to flow, so your business and its supply chains run smoothly.

Minimize the need for ad hoc IT involvement and investment in compliance updates.

Save time, eliminate labor-intensive manual updates, and enhance accuracy.

Stop worrying about ever-changing different country formats and processes.

Reduce your total cost of compliance.

MANAGING CTC OBLIGATIONS

A complete global VAT compliance solution

Ease your journey to CTCs with Sovos for a scalable global VAT compliance solution built on local expertise to solve your CTC obligations wherever you operate.

“Our internal staff can focus on strategic business activities rather than constantly researching and implementing continual country changes. Because Sovos provides the network upgrades as well as the SAP ERP configurations, we have been able to work with one vendor across multiple countries and confidently manage the changes to Brazil’s Nota Fiscal and Mexico CFDI’s legislation.”

Randy Isdahl
Director of SAP Process Architecture, Brown-Forman

Benefits of Sovos CTC solutions for SAP users

Shield ERP custom-code from change.

Empower customers to handle current and future CTCs.

Maintain ERP as a single source of truth by automating the alignment of transactional data between customer ERP and government systems.

Match acknowledgement / approval / rejection codes to original invoices and near real-time reports submitted.