- Managing your I.T requirements for VAT: Importance of Master Data
OCT 01, 2017
Managing your I.T requirements for VAT: Importance of Master Data
In the first video of ‘Managing your I.T requirements for VAT’ series, Pierre Arman, Market Development Lead for Tax & Accounting, speaks to Stewart Nivison, Head of ONESOURCE Indirect Tax for MENA at Thomson Reuters, to understand the importance of Master Data.
Master Data relates to tax determination codes to ensure the correct VAT code is assigned as well as the reporting code to ensure the accurate VAT treatment is applied. The Thomson Reuters Tax team explains how this works in practice and how this helps reduce the burden on the tax function and ensures fully complaint VAT reporting and an efficient VAT returns process. Discover the importance of Master Data, and how organizations can finalize preparations for VAT compliance to be ready for implementation from the 1st of January 2018.