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MANAGED SERVICES VATThis can be an expensive way of removing the compliance burden from your team in the short term, yet still leave you craving ongoing visibility of what’s happening to your data. A growing number of jurisdictions, including Hungary and Spain, same day or within days. If your initial choice of outsourced expands, you’ll soon have a disparate set of outsourced providers to manage too: adding complexity when you wanted to eliminate it. BUSINESS REQUIREMENTS • New VAT registrations from expansion • Handle numerous • Deal with master data changes • Quality data to justify deductions • Strategic need for data insights Avoid penalties COUNTRY COMPLEXITY • Maintain digital links to source data • declarations • Timely validation of data integrity REGULATORY CHANGE • New rules on VAT deductions • Filing frequency changes • Threshold changes • VAT rate changes • Schema changes EU REQUIREMENTS • Sales Lists • Prepare and • Comply with e-commerce rules • Demands for Continued eligibility for VAT deductions Readiness for audits Strategic data insights Prevent source data errors triggering audits KEY DRIVERS FOR CUSTOMERS CONTINUITY OF COMPLIANCE CONTROL AND VISIBILITY OF DATA The VAT compliance obligations companies face are changing faster than ever. It’s a challenge to keep up. If you trade across multiple borders, the complexity accelerates, and associated workloads intensify too. All of which raises the importance of a robust compliance continuity plan. deductions, invasive audits and other Your existing team faces mounting pressure to monitor all the rapidly emerging legislation that’s published in local language, and to interpret this accurately. They also need to work faster to prepare and submit all the necessary reports, some of which It may be both challenging recruits with the expertise and knowledge to cover multiple territories. With such resources so scarce and expensive, growing your compliance team may prove to be an option that’s neither One solution to cope with this change is to VAT returns EC Sales & Purchase Lists Intrastat declarations UK MTD Poland JPK VAT books Domestic sales/purchase listings VAT ID checks VAT registrations Ongoing compliance despite rapidly changing obligations Sovos VAT expertise alongside up-to- date compliance software Powerful onboarding and VAT registrations for expansion Enhance knowledge and skills without Accurate data mapping, prompt insights Optional migration path to fully insourced solution Dashboard visibility, builds familiarity with tech solution To tackle contemporary VAT compliance challenges, customers increasingly want to automate, centralize, improve or streamline VAT reporting obligations. Sovos VAT Managed Services enable businesses to knowledge and expertise of local VAT professionals data analytics from our VAT reporting software. Sovos VAT Managed Services takes care of your compliance burden for both periodic and continuous reporting obligations across all markets where you operate. You’ll have full visibility with a dashboard view of the status of your filings. At a later date, if you decide you’d like to bring your VAT compliance function back in-house, your partnership with Sovos as the leading, global tax technology provider, means you can readily pivot to a fully insourced software solution. OUTSOURCEINSOURCE End-to-end, technology-enabled VAT Managed Services ease your compliance workload and mitigate risk wherever you operate today, while ensuring you’re ready to handle the VAT requirements in the markets you intend to dominate tomorrow. For further information please contact: emeainfo@sovos.com / sovos.com/vat-managed-services www.sovos.com Argentina Brazil Chile Colombia Mexico Netherlands Peru Sweden Turkey United Kingdom United States / / / / / / / / / your resources according to your business priorities SOVOS ADVANCED PERIODIC REPORTING A UNIQUE OPERATING MODEL VAT REPORTING COMPLIANCE PEACE OF MIND WITH A COMPLETE, GLOBAL VAT MANAGED SERVICE FROM SOVOSNext >