VAT Insights

Automatic VAT data analysis by PwC

Your organisation has a professional VAT administration system and your employees have been trained to use it. However, in practice, VAT-related entries often contain errors which go unnoticed. This means VAT could be wrongly deducted and this may lead to additional tax bills and penalties. You could also wrongly fail to re-claim VAT. Would you like to know how effective your VAT administration system actually is? Then we have the perfect solution.

Your ERP system is a valuable source of information which can be fully exploited using automatic data analysis. We have developed VAT Insights in order to analyse large quantities of VAT bookings.

This analysis is similar to the manual VAT audit carried out by the Tax Authority, but actually goes a step further. Besides information about the accuracy of your VAT bookings, VAT Insights identifies opportunities for improving your administration system. In addition, VAT Insights retrieves relevant management information from your ERP system.

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VAT optimisation possibilities

We include analysis results in a report featuring dashboards, including underlying specifications. The report off ers you an insight into how VAT is registered in your procurement and sales processes. For instance, has procurement-related VAT been deducted during the correct period? Have you accidentally deducted international VAT in the Netherlands? Or have you wrongly entered insurance tax as VAT? The analysis also provides a better insight into other complex issues such as the use of VAT codes.

Our VAT specialists will translate these findings into potential risks and opportunities for improving your processes and administration. Results of the analysis can be shared with the Tax Authority during Horizontal Monitoring.

Valuable management information

In addition, the dashboards show nonfiscal management information which can be very useful for CFOs and controllers. For instance, the top-ten customers, countries and suppliers. VAT Insights shows cashflow information, number of invoices in relation to turnover and the ratio between debt and credit invoices. We also show how many invoices are processed manually and automatically. Are you curious to know which strategic insights are concealed within your ERP system?

Getting started

We start by loading data from your ERP system into our data warehouse and analyse it based on standard questions. Data from all regular ERP environments can be used (SAP, JD Edwards, Oracle, etc.). The required data can be sent in no time at all. Once we receive the data, we will supply you the report within two or three weeks.

Contact us

Jochem Kijftenbelt

Partner, PwC Netherlands

Tel: +31 (0)88 792 45 01

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