Events

VAT Reporting: 5 Best Practices for Avoiding Audits as VAT Goes Digital

Webcasts
Apr 7, 2020 | 11:00 AM – 11:59 AM CDT
Online
Included with membership

In part­ner­ship with Sovos, this ASUG web­cast will deliv­er insights designed to sup­port your work with SAP Technology. 

VAT report­ing is unfa­mil­iar to many U.S.-based com­pa­nies, and it can cause major prob­lems in inter­na­tion­al ship­ping and receiv­ing. Errors in VAT report­ing can lead to fines, mis­matched finan­cial reports, dam­aged rela­tion­ships with sup­pli­ers, and cash-flow disruptions. 

Many U.S.-based com­pa­nies don’t have the knowl­edge or resources to deal with these issues. Join our upcom­ing web­cast to learn how to over­come the chal­lenges of VAT reporting. 

Key Take­aways:

  • Most com­pa­nies will gen­er­ate VAT returns based on finan­cial data and info­s­tat report­ing, which puts them at risk of a mis­match between finan­cial report­ing and where goods are actu­al­ly going

  • Data manip­u­la­tion is a huge chal­lenge as reg­u­la­tions change while goods move. 

  • For­eign exchange and cur­ren­cy dif­fer­ences are a vec­tor cash-flow risk. 

Time­stamps

  • Wel­come
  • ASUG Updates and Announce­ments [00:54]
  • Pre­sen­ta­tion and Speak­er Intro­duc­tion [1:53]
  • Dif­fer­ences in Indi­rect Tax [3:44]
  • VAT Report­ing [7:27]
  • Glob­al Trends & the Ris­ing Com­pli­ance Bur­den [12:11]
  • Resolv­ing Com­plex Oblig­a­tions with Flex­i­bil­i­ty for the Future [39:55]
  • Resources [50:51]
  • Q&A [51:31]