General
Sabrix enables companies to minimise their direct, operational and compliance cost of VAT.
Increased globalisation has resulted in organisations having indirect tax complexity being dispersed amongst numerous taxing jurisdictions. An organisation’s local indirect tax compliance is based on how they realise local indirect tax legislation against its individual supply chains, business processes and local rules.
Sabrix 5.0 delivers increased VAT compliance to organisations through the automation of tax determination from an AP/ AR end user perspective and the maintenance of rates and rules over 150 countries.
| Reporting | |
Automated country specific VAT reports ensure that a Pharmaceutical company’s compliance and reporting requirements are addressed with Sabrix 5.0. Sabrix 5.0 Reporting also ensures Tax users can generate ad-hoc reporting data from the audit database which can be used to extend VAT return data in order to address any tax authority queries and justify VAT declarations submitted. |
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| Rule Qualifiers | |
As the determination of VAT on a mix of goods and services adds to complexity in the determination process it is essential that other fields such as GL code, Account type and Project Code are included into the tax determination process. Using Sabrix’s Rule Qualifiers functionality, a company can rapidly scale their customised rules around services and the determination logic applied. By applying this functionality to the P.O. process a company can ensure that VAT does not impact the bottom line. |
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| Product taxability | |
Sabrix provides content on VAT rates and rules in over 150 countries and 11,500 US taxing jurisdictions. Internationally Sabrix provides support for all VAT, GST, HST, and PST type taxes in over 150 countries worldwide (including full EU support and support for Brazil and Indian transaction taxes). This support includes rates, product taxability rules, local and cross border transaction tax logic Sabrix’s tax research process has been certified by external auditors as being compliant with the international Statement of Accounting Standards 70i. |
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Recoverability Companies can enforce policy on recoverability by using the Sabrix workbench tax professionals can compliment content with company specific policies on recoverability and configure within the Sabrix application. Content is provided on a granular level, including the recoverability of car leasing, conferences, etc… Results can be viewed in a user friendly manner (see below) and are seamlessly posted into the correct GL Account/ VAT return.
| Additional tax types | |
In addition to content on VAT rates and rules in over 150 countries and 11,500 US taxing jurisdictions Sabrix 5.0 has the ability to manage other tax types such as excise, insurance premium taxes, environmental levies and withholding tax using its Custom Authority functionality. Tax users can easily create taxing authorities and apply logic to that taxing authority based on their requirements. Organisations have the option to maintain this content in house or to outsource the maintenance of this content with Sabrix’s SAS 70i certified Tax research process. |
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Other 5.0 key enhancements and how they assist indirect tax complexity:
Related charges/dependant products: During promotional activities, companies may bundle goods/services. With this comes increased indirect tax determination complexity. By utilising Sabrix 5.0 functionality on related charges, tax professionals can easily configure Sabrix to identify the related charge and ensure that it follows the tax treatment of the parent product.
Material sets: Companies often group products/materials into sets for VAT/excise determination and reporting purposes. This requires significant resources from Operations, Tax and IT in order to configure and maintain within an ERP system. By utilising 5.0 functionality, tax professionals can map lists of products to applicable tax rules without the need to configure individual rules for each product in the list.
Currency conversion: Sabrix 5.0 has the ability to perform currency conversion in order to support conversion rates approved by a tax authority. Tax Authority rates can be loaded into the Sabrix application as opposed to using company specific FX rates and completing manual workarounds during reporting periods.
| General Enquiries | Tax Enquiries | Technology Enquiries |
| Stewart Nivison | John Curry | Kid Misso |
| Country Manager | VAT Business Consulting | Systems Engineering |
| +44 (0)7730 930308 | +44 (0) 77085 99564 | +44 (0) 7714 218 733 |