Vertex – Indirect Tax
Deloitte – Automating the VAT Return Process Seminar
7 May 2015
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Agenda & Solution Overview
§ Introduction
§ Vertex Indirect Tax Returns
• Reporting and Compliance
§ Vertex O Series for Indirect Tax
• Global Tax Calculation system
§ Automating Indirect Tax
• Tax Data Management through Vertex Enterprise
3
§ Q&A
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Introduction
Vertex – The Standard in Tax Technology
§ 30-year history in tax management and
technology
§ Global solutions for Indirect Tax
§ Over 4,000 software installations worldwide
§ Focused exclusively on tax technology and
content
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Vertex Indirect Tax Returns
Vertex Indirect Tax Returns
§ Global Returns Platform
• Over 1,100 licences
• Well Established and Stable
• Supports Returns and E-file
§ Monthly Updates
§ Global Licence Options
§ Multiple Deployment Options
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Statutory Returns
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VAT Return Replicas
ESLs and Intrastats
Line-By-Line Drill Through
Multi-Language Returns
Culture Support
Filing Reports with CSV Creation
E-File Support (see Roadmap)
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Roadmap
§ Countries Added Quarterly (around 60 countries supported by end of 2015)
§ Additional Information Reports
§ E-File capabilities
• Planned rollout of mandated countries
• Delivery provided through monthly updates
§ Additional Enhancements Driven by Customers
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User Security
§ SQL Server Authenticated accounts
§ Role-Based Security
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Managing User Roles
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Importing Data – O Series
§ Pre-Configured Export
§ Minimal Mapping in Returns
§ Pure End-to-End
• Content is Synchronized
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Importing Data – Other Sources
§ Two Import Types
• New Records
• Update Existing Records
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Importing Data – Customize
§ Rules – Simple Field-Specific Overrides
§ Scripts – Allows Complex Code
§ Filters – Removes Unwanted Data
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Import Scripts
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User created C# code - script code executes during import process
Scripts control movement of data into system
Scripts perform transformations/validations
Similar to Tax Assist in O Series
Script development and maintenance will probably fall on a technical resource
Use Security to control user access to scripting
Scripting guide (API guide) and Development environment available on request
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Tax Data
§ Invoice-Level Details
§ Customisable Multi-Attribute Data Queries
§ Additional Spreadsheet Filtering
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Administration of Returns
§ Administrator applies monthly updates
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Apply to both the program files and databases
Supplied from the myVertex website at months end
Contains improved functionality and new Research content
Provided tools fully automate the monthly updates
One Global update
§ Automate client update:
• Auto update is built into application
• Ability to deploy updates on Active Directory using MSI
§ Updates are continuous. No annual roll over or reinstall !
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The Tax Engine – Vertex O Series
Why Vertex O Series?
§ Ensuring upstream coding quality and consistency
§ Moving away from:
• Manual Processes
– ERPs/Finance Systems/eComm platforms embedded with little or no tax content
– Tax rate (and TaxCode) need to be set-up and maintained
– Selection of TaxCodes in ERPs
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Risk of error, lack of consistency; turnover of staff; training/manuals/flow-charts, etc.
Shared Service Centres/outsourcing of AP functions
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Lack of local knowledge
Paid to process AP invoices
§ External Pressures
• Greater scrutiny [internal and external]
– SOX, SAO, horizontal monitoring, co-operative compliance
– Process, process, process
– Visibility and openness
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What is Vertex O Series?
Vertex O Series is:
§ A tax calculation engine for global
indirect taxes
• ‘VAT’
– Input (Procurement)
– Output (Supplies)
• Complex Indirect tax systems
– India; China; US; Brazil, etc.
§ A system that interfaces
with Financial Systems
to process appropriate VAT
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§ A data repository containing:
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Tax Jurisdiction codes
Place of supply rules
GST/VAT/Indirect Tax rates
Taxability rules per category
§ A range of reporting tools to
generate:
• Statutory Reports
• Analytical and underpinning
reports
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Vertex O Series Overview
Financial System (ERP)/eCommerce etc
1
4
Request
Response
External Interface
2
TaxGIS [Jurisdiction ID]
3
Vertex
Central
Tax Calculation
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TaxGIS
TPS
Rates | Rules
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Tax Journal
Other data
sources
Tax Professional
• Administration
• Configuration
• Tax Workbench
Vertex
O Series
Reporting
Database
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Vertex Returns
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Vertex Indirect Tax Accelerator for SAP ERP
SAP
SAP ECC
SAP Tax
Link Area
“Vertex Indirect Tax
Accelerator for SAP”
Vertex delivered SAP ABAP
Transport
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Vertex O
Series
Vertex SIC
Enhanced
SAP RFC
Data
SAP Interface
Component
(SIC)
Vertex
XML
Tax Service
Engine
(Calculation and
Jurisdiction
Identification)
SIC 7.0
Sales
VAT
CUT
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Vertex O Series Tax Links For E-Business Suite
Oracle Applications
Sales
CRM
OM
AR
SVC
PB
§ Creates standard
set of APIs based
on Oracle financial
event
§ Generates
WF Notifications
Purchases
PO
EB Tax Interface
§ Defines Touch
Points w/Oracle
INV
AP
PC
FA
§ Extensible
Attributes
Vertex Interface
§ Translates EB Tax
interface data to
Vertex specific
record formats
§ Calls the Vertex tax
packages to
perform a service
Vertex
Supplied
Oracle
Integration
Component
(OIC)
XML
Request
XML
Vertex
O Series
Tax
Engine
Response
§ Populates results
into APIs for EB Tax
consumption.
Vertex Tax Links Client
Extension
§ Sourcing Rules (Company,
POA, Ship-To, Ship-From,
Product, Tax Type, etc.)
§ Configuration Preferences &
Process Options
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Embedded Global Content
§ Strong internal content maintenance processes
• SSAE16 process covers content and content process – provided
by reputable organisation
• Dedicated research team
• Content relationships built directly with major expert networks and to the tax
authorities
• Changes tied-back to legislation, gazettes, authority announcements, case law, etc.
• Commitment to ongoing content development
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Tax Data Management
Tax Data Management
Multiple systems, reliance on manual processes, and thousands of man hours to adjust and tax-enrich the data.
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Vertex® Enterprise
Vertex® Enterprise
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Vertex® Enterprise with Deloitte Analytics
Financial Systems
Business / Corporate / Shared Services
Core VAT Return Process
SAP
Operational Reporting - Hindsight
Vertex O series
Other
Vertex
Enterprise
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Insights (VAT position -General Ledger)
VAT determination
Partial Exemption Calculation
Trend Analysis
VAT tests
Enrich
Data
Deloitte VAT Data Analytics
Advanced Reporting – Foresight
Manual
Records
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•
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Supply Chain Analytics
Scenario Planning (supply chain – business model)
Integration with other taxes (transfer pricing,
customs)
Contact Information
§ Alan James, Director, Client Solutions
• Telephone: +44 208 622 3890
• Email: [email protected]
§ Andrew Hallsworth, European Manager, Client Solutions
• Telephone: +44 208 622 3526
• Email: [email protected]
• http://uk.linkedin.com/in/andyhallsworth/
§ Mike Tomlinson, Account Executive
• Telephone: +44 208 622 3903
• Email: [email protected]
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