Vertex and Duracell Partnership Leads to First Successful Spain SII Electronic VAT Filing
Vertex, Inc., a leading provider of tax technology solutions, today announced its first successful Spanish SII electronic value-added tax (VAT) filing while working in partnership with Duracell, the globally operating iconic consumer battery company and the leading manufacturer of high performance alkaline batteries, as well as speciality cells and rechargeables.
The Spanish SII filing, a new requirement introduced by the Spanish government, requires taxpayers to submit VAT relevant transactional data of their Accounts Payable (AP) and Accounts Receivable (A/R) records in a specific xml format in near real-time to the government.
To support these new regulations, Duracell has implemented Vertex® Indirect Tax Returns, a VAT compliance solution that produces signature ready VAT returns, as well as other filings including VAT SAF-T and most recently the Spanish SII filings. Duracell and Vertex are pleased to announce that the first actual SII VAT filing submission was completed successfully on 4 July 2017.
To overcome complex tax data management challenges, as well as perform selected automated validations prior to the actual SII submission, Duracell is leveraging Vertex® Enterprise, a cloud-based data management and analytics solution.
“Duracell is pleased to have partnered with Vertex in order to accomplish the first Spanish SII VAT filing,” said Irmante Stazyte, Global VAT Manager at Duracell. “Duracell is confident in Vertex technology and its team to provide tax solutions that help us meet country specific tax requirements across the world and timely address changes in tax legislations such as the recent SII introduction in Spain. Through Vertex solutions, we access and organize important tax data end to end, from tax determination to tax reporting, transmission to authorities and data analytics. This enables us to stay compliant and make critical business decisions, both locally and from a global perspective,” she added.
“Spanish SII is another step towards full ‘digitalisation’ of the relationship between businesses and the taxing authorities,” commented Danny Vermeiren, Director of VAT in the Vertex Chief Tax Office. “We’re seeing a trend of moving away from monthly or quarterly VAT submissions to now requiring data to be exchanged in real-time or near real-time. In order to cope with the increase in digital filing requirements, taxpayers should consider their filing strategy and invest in the right tools and technology. This will allow companies to unify, tax-sensitize and centralize all of their data, leveraging that as a single-source for all tax data and filing requirements.”
Since 1978, Vertex, Inc., has been a leading provider of tax technology and services, enabling companies of all sizes to realize the full strategic potential of the tax function by automating and integrating tax processes, while leveraging advanced and predictive analytics of tax data. Vertex provides cloud-based, on-premise, and hosted solutions that can be tailored to specific industries for every major line of tax, including income, sales and consumer use, value added and payroll. Headquartered in Pennsylvania, Vertex is a privately held company that employs over 900 professionals and serves companies across the globe.
Duracell is the world’s leading manufacturer of high performance alkaline batteries, specialty cells and rechargeables. Since its foundation in the early 1940s, the company has become an iconic personal power brand, trusted for compact and longer-lasting batteries. On average 63 Duracell products are sold every second, and Duracell is the number one brand recommended by the world’s largest manufacturers.
Duracell has a rich history of innovation with many pioneering and successful products, ranging from the first hearing aid cell button and alkaline AA and AAA batteries through to PowerCheck™, which allows consumers to verify a Duracell battery’s remaining power.
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