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

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]
   

Speakers

• Steve Sprague, Chief Strategy Officer and GM of Global VAT, Sovos
• Andrew Hocking, Director, Compliance Services, Sovos