Using TIS data analytics tools, organizations now have the opportunity to transform tax data into insight. Imagine gaining certainty on invoices, returns and declarations, finding overpaid or under-claimed tax, and revealing buried business opportunities.
TIS supports time-consuming periodic VAT activities, creating certainty on:
Fact-based insight into the level of VAT compliance for multiple jurisdictions. Continuous monitoring results in insight in:
Through statistical sampling techniques, TIS discovered invoices for which input VAT was not recovered. The large international insurance company did not administer VAT separately in their financial accounting until 2013. This resulted in a VAT correction request, reclaiming €400,000.