In the current climate of increasing reporting and compliance requirements, companies that perform taxable transactions must be able to demonstrate a high level of control on their tax-related data.
Do you report EU sales and purchases for VAT with multiple customers, co-contractors and suppliers on a pan-European level? Or do you operate a shared service centre to fulfil VAT obligations on a central level? Are you aware of your withholding tax obligations when making payment to your vendors?
You need the right tools in place to assure the accurate and systematic treatment of your tax data and withholding tax obligations.
Streamline your VAT processes and improve control of your data with RoboVAT, PwC’s user-friendly cloud computing solution. Our bespoke secure and privacy-compliant tool can bring measurable cost savings and time gains via automation.
RoboVAT 1.0 will help your organisation comply with the 2020 quick fixes to the EU VAT system introduced by the European Council, namely to have valid EU VAT ID numbers on invoices to apply the EU VAT exemption for cross-border supplies.
In case of an invalid VAT ID number, RovoVAT 2.0 will help to provide a suggestion to correct the invalid VAT ID number of your business partner.
If you’re looking to ensure compliance in the case of a supplier who has tax or social security debts, RoboVAT 3.0 is your answer. It’s the only solution that automatically checks in bulk whether there are any withholding tax or social security obligations for Belgian suppliers in the construction, meat and security/surveillance sectors. If a (sub)contractor has tax debts with the Belgian Tax authorities, companies and self-employed persons have a legal obligation to pay 15% of the invoice amount (excluding VAT) to the government. And in the case of social debts to the Department of Social Security there’s a legal obligation to pay 35% of the invoice amount (excluding VAT) to the government.