Pharmaceutical
Sabrix enables Pharmaceutical companies to minimise their direct, operational and compliance cost of VAT.
A multifaceted supply chain from clinical trials through to production and distribution can result in significant indirect tax complexity for pharmaceutical companies. This coupled with the increased globalisation of this industry results in this indirect tax complexity being dispersed amongst numerous taxing jurisdictions.
Sabrix 5.0 delivers increased VAT compliance to the Pharmaceutical sector through the automation of tax determination from an AP/ AR end user perspective and the maintenance of rates and rules for 170 countries.
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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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| Product taxability | |
Sabrix provides content on VAT rates and rules in 13,184 tax authorities and 170 countries. |
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Internationally Sabrix provides support for all VAT, GST, HST, and PST type taxes in 170 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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Other 5.0 key enhancements and how they assist the complexity of a pharmaceutical company:
Rule Qualifiers: As the determination of VAT on services can be more complex in comparison to goods, 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 pharmaceutical company can rapidly scale their customised rules around services and the determination logic applied. By applying this functionality to the P.O. process a pharmaceutical company can ensure that VAT does not impact the bottom line.
Recoverability: Pharmaceutical 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, TandE etc. Results can be viewed in a user friendly manner (see below) and are seamlessly posted into the correct GL Account/ VAT return.
| 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 |