Product automates and simplifies compliance, offering scalability and expanded global coverage
Vertex, Inc., a global provider of tax technology solutions, announced the availability of the Vertex® Cloud VAT Compliance solution with advanced features that support the changing tax environment across Europe and other countries that require the digitalization of value-added tax (VAT) and goods and services tax (GST). The solution centralizes and streamlines compliance as companies enter new territories and indirect tax filings become more complex.
“As VAT legislation complicates an already highly-complex economic and regulatory environment, our next-generation solution can help businesses navigate global compliance challenges,” said Vertex CEO David DeStefano. “We are a trusted technology provider with a long history of customer co-innovation that accelerates time-to-value, and leveraged this proven approach to introduce a cloud solution for VAT that supports the digital transformation of tax.”
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The advanced VAT compliance solution features integrated customizable rule-based data quality and validation tools, as well as workflow automation that maximizes data and return accuracy and minimizes risk of liability. Signature-ready returns and reports have been expanded for countries in Europe, Latin America, Asia, and Africa; and evolving VAT legislation including One Stop Shop (OSS), as well as real-time reporting.
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“We value the co-innovation approach that Vertex has taken. We believe our collaboration with the Vertex product team will ensure a truly customer-oriented solution that enables multinational companies to meet VAT compliance requirements, with features like workflow automation and data validation that will help us grow with confidence,” said National Instruments Indirect Tax Manager Marina Jukic.
As multinationals face ever-changing VAT compliance regulations and authorities are requiring increased transparency and real-time reporting, Vertex provides a single, end-to-end global solution that minimizes risk and helps solve compliance challenges.
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