Ready for electronic tax compliance on a global scale?

Simplify VAT declaration processes with our Global Compliance Platform

Deliver on the challenges with our Global Compliance Platform

Tax authorities throughout the world are moving towards electronic tax compliance, the aim being to improve tax-related control processes, simplify procedures and make supervisory processes automatic. This development is part of the global advance in company digitisation.

However, in a global market, businesses face two main challenges:

  1. Implementation of technology solutions that allow communication with tax authorities to be addressed and automated electronically.

  2. Adaptation to locally established tax compliance with different characteristics in each region.

Get ready for electronic VAT records in the UK

Making Tax Digital is the UK law on electronic VAT statements which will take effect from 1 April 2019.

EDICOM’s MTD solution has been approved by the HMRC as a bridging and digital VAT record keeping software.

FAQs on Making Tax Digital

As of 1 April 2019, all VAT-registered businesses with a taxable turnover above the VAT threshold  (£85,000) are required to keep digital records and send VAT returns digitally to HMRC using MTD-compatible software (except those that have been deferred).

For a small minority of VAT-registered businesses with more complex requirements, HMRC established an extension period of 6 months to ensure sufficient time for testing during the pilot, this is, 1 October 2019.

The connection with the UK tax authority will be through the web services protocol via API, preferably using JSON.

MTD file must contain as a minimum the 9 boxes required for the VAT return, but can also contain a specific data set of supplementary information.

Do you need to send VAT reports to different countries?

The EDICOM platform simplifies communication processes with tax authorities across multinational settings. A multi-standard, multi-protocol solution capable of adapting to the major ERP systems on the market.

Hungary: Real Time Invoice Reporting since 1 July 2018

Spain: Immediate submission of VAT books since 1 July 2017

Poland: VAT returns using the JPK_VAT file

Portugal: e-Invoicing and e-Accounting

Online tax reporting in Europe

Electronic tax compliance policies are expanding across most EU Member States.

As part of the Single Digital Market strategy, the European Union presented a string of initiatives to modernise and harmonise the present system in its VAT Action Plan. They included simplifying VAT compliance for e-commerce and SMEs.

The goals include reformulating Community and national laws on VAT and entail a significant technological leap forward.

Download our VAT Compliance White Paper

Online tax reporting in LATAM countries

e-Tax compliance in Latin America has very different features to Europe. Most countries require businesses to use e-invoicing and e-reporting to combat tax fraud.

Taxpayers generate their e-invoices in the format determined by the law (usually XML) and submit them to the pertinent tax authority for validation before they are forwarded to the recipient. This entails a real-time declaration of the tax data included in these documents, including VAT.

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Centralised. Automated. International.

Comply with tax obligations from a single electronic platform From a permanently updated single platform, companies that work on different markets from different centralised systems can send e-VAT documents and books in line with the laws of each country. This is how our platform works.

Integration Module

The solution is integrated with the company's ERP, implementing its mapping systems to automatically translate the information generated to the electronic format required by each tax authority (XML, UBL, SAF-T, etc.).

Compliance Module

When the message has been validated, mechanisms are applied to ensure its legal value. For example, a digital signature, electronic time stamp or other certified service. The document is then ready to be sent.

Validation Module

The data is then syntactically and semantically validated to ensure that the file is correct, in accordance with the specifications of the destination country.

Communications Module

The platform delivers the message, through the required protocols in each case (web service, AS2, HTTPS). The related notifications are also received and are integrated with the ERP.

Benefits for your company

Integration

Integration

Full integration with ERPs, carrying out as many transformations and adaptations required by your documents. Everything takes place transparently and with no need for any changes in your IT infrastructure. 

Unification

Unification

Businesses no longer need to multiply their tax compliance resources, they can centralise all these tasks in a single provider and automatically comply with national legislations.

Cost savings

Cost savings

Automation and centralisation drive business efficiency. It is now possible to harness the benefits of digitisation, including the enormous cost savings that can be made. 

Compliance

Compliance

The EDICOM VAT platform is prepped to operate in more than 70 countries throughout the world. Its use is a guarantee for businesses, ensuring they avoid potential fines due to tax non-compliance or incorrect declarations. 

Security and availability

Security and availability

EDICOM has been certified by various institutions, achieving international certifications such as ISO 27001, ISO20000, ISAE 3402 and TIER II DESIGN. Maximum security guarantees and 99.9% minimum solution availability. 

Constant updates

Constant updates

Through the International Observatory on Tax Compliance, EDICOM is involved in active knowledge management to ensure that its solution is permanently updated to adapt to the regulatory changes that take place periodically in various countries.

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