VAT Insights

Your organisation has a professional VAT registration system your employees are trained to work with. Nevertheless, in practice VAT entry errors that remain invisible often slip in due to, among other things, complex legislation subject to constant change and new business scenarios. This can result in VAT incorrectly being deducted or in no VAT being charged when it should be, with the associated risk of additional tax assessments and fines. Similarly, it can also result in VAT not being claimed back in error or VAT incorrectly being charged. Would you like to know how if your VAT registration is properly in order? We have the perfect solution.

Automatic VAT data analysis by PwC

Your ERP system is a wealth of information that can be accessed and utilised with automated data analysis. We have developed VAT Insights to analyse large quantities of VAT entries. The analysis can be compared with the VAT inspection carried out by the Tax and Customs Administration, but goes a step further. In addition to information on the accuracy of your VAT entries, VAT Insight highlights ways to improve and optimise your VAT registration process. VAT Insights also gathers relevant management information from your ERP system. PwC would be pleased to demonstrate the benefits. Interested? If so, please contact us.

VAT optimisation possibilities

We process and present the analysis results in a clear overview with a number of dashboards which features an underlying level of detail. The overview provides insight into the VAT management of your procurement and sales processes. Have you accidentally deducted non-Dutch VAT in the Netherlands? Or has insurance premium tax incorrectly been entered as VAT? The analysis also provides insight into more complex matters, such as the use of VAT codes in combination with the ledger accounts and daybooks used and the restrictions on liability under the Turnover Tax Deduction (Exclusion) Decree (BUA).

Cash flow and VAT optimisation

Further to the results of the data analysis, we also provide you with insight into the possible cash flow and VAT benefits. For example, is the input VAT deducted in a timely fashion? Has all foreign VAT been claimed back? Is it possible to claim back VAT on expense claims?

Our VAT specialists will set out the risks and optimisation possibilities for your processes and record-keeping system. The results of the analysis can be shared with the Tax and Customs Administration, for example as part of horizontal supervision with other stakeholders.

Valuable management information

The dashboards also present non tax-related management information that is valuable for both the CFO and controller, such as information regarding your top 10 customers, countries and suppliers. VAT Insights provides, among other things, cash flow information, numbers of invoices compared to turnover and the relationship between debit and credit invoices. We also show you the number of invoices processed both manually and automatically. Curious to find out which strategic insights lay hidden in your ERP system? We would be happy to take on this job for you!

How does it work?

We load data from your ERP system into our data warehouse and analyse the data using standard questions as well as questions that are specific to your business model. Data from all common ERP environments can be used (SAP, JD Edwards, Oracle, etc.). The time commitment on your part in supplying the files is minimal. After the data has been received in good order, we will provide you with the overview containing the results within 2 to 4 weeks. We can of course discuss these results with you in order to advise you further on optimisation.

Additional services

VAT Insights also allows us to reconcile your data and the VAT returns submitted to the Tax and Customs Administration and we can carry out statistical spot checks using the methods of the Tax and Customs Administration. These additional services will yield a complete VAT survey highlighting all material aspects.

Subscription version

It is also possible to take a subscription whereby the data is requested periodically (monthly or quarterly) by PwC, is uploaded into VAT Insights and offered to you again. You can then perform the analysis yourself, using the standard dashboards and the custom-made bookmarks developed by PwC (specifically tailored to your risks).