Fao-capgemini-european taxreporting services

Fao-capgemini-european taxreporting services

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  the way wedo itBusiness Process Outsourcing Capgemini European Tax Reporting Services KEY FACTS: • 10 years of experience • 23 European countries in scope • Recovery of more than €100,000 for the entity • Over 200 tax and INTRASTAT-related reports prepared regularly • 100% of completed declarations submitted on time Successfully managing your tax processes can increase both your company’s profitability and tax compliance. We help you to optimize your business’ European tax processes by combining Capgemini’s end-to-end process knowledge and highly efficient processes with the right team of experts to deliver tangible results to the business. Europe, like Brazil – where we have specialized tax services and 200 tax experts – is a region with significant tax complexity. Capgemini Business Process Outsourcing (BPO) has been successfully delivering Tax and INTRASTAT-related services to its customers for 10 years. What’s more, our highly motivated and skilled staff prepares tax documentation for our clients for 23 countries across Europe. These extremely skilled Capgemini professionals prepare and analyze tax reports in local languages while your in-house staff focuses on approving and submitting the reports to legal authorities. As a result you can concentrate on your core goals and objectives. Increased profitability and tax compliance
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  2 Capgemini EuropeanTax Reporting Services We are ready to provide your business with a tailored set of services, such as: More than 200 tax & INTRASTAT-related reports prepared on a regular basis Through close and efficient collaboration within the accounting department, our experts effectively share knowledge and pursue the best possible solutions. All complex documents are scrutinized thoroughly. The most common challenges are linked with chain transactions – here detailed analysis is conducted to determine whether the correct tax rate was used. Frequent compliance checks are conducted in order to analyze: With best-in-class processes and controls in place, your enterprise has the tools to meet deadlines related to tax reporting and tax payments, lowering the penalty risk. • VAT registers and their reconciliation with VAT accounts • Purchase and sales ledger postings concerning tax data used • Backdated return form amendments Analysis of: • Tax-related turnover reports • International VAT reclaim invoicing and handover to third parties • VAT declarations • VAT-related journal entries • VAT return forms • Backdated return form amendments • Corporate Income Tax calculation • IFRS taxation reporting • INTRASTAT reports • European Community sales list report • Actual accounts data within scope of tax reports and evaluation of possible data inconsistencies • Withholding tax report Preparation of: • Corrections reporting to financial representatives at client locations • Year to date VAT accounts reconciliation • Tax documentation provision for tax authorities, Sarbox process and external audits • VAT claims calculation • VAT payment and bookings based on finance manager documents • Tax depreciation calculation (FA) • INTRASTAT queries handling • VAT number verification Other tax-related services: Types of Transactions • VAT EU number verification • Vendor name and address • Place of delivery • Country of origin • Commodity code • Tax amount • Net mass • VAT rate Invoice Elements • Domestic sales and purchases • Intercommunity supply of goods and services • Intercommunity acquisi- tion of goods and services • Export • Import With best-in-class processes and controls in place, your enterprise has the tools to meet deadlines related to tax reporting and tax payments, lowering the penalty risk.
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  3 the way wedo itBusiness Process Outsourcing Client case study: BUSINESS CHALLENGE Initial Situation: 1. No standard VAT reconciliation process 2. Lack of end-to-end control between VAT declarations and SAP postings 3. No clear rules regarding usage of SAP VAT codes and GL VAT accounts 4. No global module for Accounts Payable side regarding VAT and accounting rules 5. Legislation change related to new report for Hungarian location (Domestic Hungary Report) 6. Sales system conversion from Local to SAP 7. New VAT registrations: United Kingdom, Poland CAPGEMINI SOLUTION & APPROACH Outcomes: 1. Full analysis of all VAT accounts and FX differences calculation for last 3 years 2. Reconciliation between VAT declarations and VAT payments/returns - 206 declarations checked in total 3. Revision of all VAT codes relating to transaction type – inter-community supply of goods/services, exports; inter-community acquisition of goods/ services, imports; domestic sales and supply. As a result six new VAT codes were created (split by country: Netherlands, Czech Republic, Hungary, France, Poland, Belgium). GL VAT accounts settings verified and linked to each VAT registration 4. Creation of Accounts Payable global model - invoices split by vendors and transaction type (tax code); 59 examples (invoices) showing correct tax code usage depending on transaction type and location 5. Domestic Hungary Report created to meet all legal and tax requirements 6. Process change and set up of new procedures related to VAT sales report preparation due to SAP conversion 7. Creation of new VAT reports accommodating local tax requirements CLIENT BENEFITS: 1. Reconciliation of open items on all VAT accounts and 95% reduction in open items 2. Creation of Accounts Payable global model 3. Creation of Domestic Hungary Report 4. Our involvement in report modifications helped our client make third party cost savings Our approach to the VAT accounts reconciliation process resulted in the recovery of €100,000 for the entity for our global manufacturing client.
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  The information containedin this document is proprietary. ©2014 Capgemini. All rights reserved. Rightshore® is a trademark belonging to Capgemini. Outcomes of our approach: • Increased tax compliance • Reduced penalty risk • Enhanced profitability • Finance managers able to focus on core F&A activities • Alignment with most current tax regulations • Access to world-class processes and best practices • Dedicated team of tax experts Marcin Sniegowski Director [email protected] For more details contact: About Capgemini With more than 130,000 people in over 40 countries, Capgemini is one of the world’s foremost providers of consulting, technology and outsourcing services. The Group reported 2013 global revenues of EUR 10.1 billion. Together with its clients, Capgemini creates and delivers business and technology solutions that fit their needs and drive the results they want. A deeply multicultural organization, Capgemini has developed its own way of working, the Collaborative Business ExperienceTM , and draws on Rightshore® , its worldwide delivery model. Learn more about us at www.capgemini.com www.capgemini.com/bpo About Capgemini BPO Capgemini BPO has supported more than 100 clients in transforming their business processes. We leverage our innovative technologies, best-in-class processes and integrated global delivery network to deliver true business outcomes. Collaboration is in our DNA and we pride ourselves on developing strong strategic partnerships with our clients. We work closely with your teams to adapt Capgemini’s proven models to each client’s unique requirements and culture.