Sabrix has announced support for the 2010 VAT changes for European Union, which include changes in the place of supply of services rules designed to standardise VAT collection based on where services are consumed. The news supports the 2008 KPMG study that shows VAT ‘through-put’ is the third-largest financial outlay – behind sales and purchases for companies – accounting for up to US$1bn of corporate cash flow for larger corporations.
Sabrix says that the latest release of its Application Suite includes several enhancements, such as:
- Enhanced tax determination logic supporting the 2010 VAT changes for European Union Place of Supply Rules for Services to ensure continued compliance and increased control over cash flow.
- Configurable, automated rounding rules at the document and jurisdiction level to enable tax professionals greater flexibility for calculation accuracy.
- Greater reporting performance capabilities to streamline the labour intensive returns process and improve the speed and quality of decision-making.
- Additional application access capabilities for increased security.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.