We'll navigate you through the tax maze

Compex advances tax-oriented features in Compex Commerce 3.47

The financial pressure on all European governments is mounting. As a result, Brussels and the EU member states constantly come up with new taxes and duties. The prepaid disposal fee, the alcopops tax, the heavy metal tax for batteries or copying levies are just some of the examples. Consequently, retailers and wholesalers are forced to quickly and flexibly react to changes of taxes, levies, and fees. This includes that new duties and taxes imposed by producers are maintained and indicated on documents, that duty amounts are adjusted, and that abolished tax types are excluded from the price calculation.

Compex Commerce - "ready for tax"

With its standard software Compex Commerce, Compex Systemhaus GmbH already offers its clients the possibility to easily allow for taxes and levies. The solution also features the central adaptation of the master data to country-specific changes in law. This ensures the efficient maintenance of parameters required for the calculation of taxes and duties for single articles or merchandise categories - depending on the requirements.

Taxes and duties are taken into account for both purchase and sales processes. Analogous to the value-added tax, the retailer pays the duties imposed by the supplier and then adds them to the sales price. Thanks to the Compex Commerce document principle, all values of the applied tax and duty rates are documented - from the order or supplier purchase order to the invoice or the sales slip up to the transfer to Financial Accounting. The offices in charge of the settlement of taxes and duties are indicated as well. The document principle also applies to the transfer of values to OBII (Online Business Intelligence Integration).

If taxes or duties are abolished, it is possible to "deactivate" them in time within Compex Commerce. Taxes and duties are not only indicated and processed in the documents but also taken into account for all integrated processes, e.g. for the creation of flyers, for the web shop as well as for shelf labels. Compex Commerce thus warrants that the directives are complied with for the purpose of governance - irrespective of the taxes and duties, the governments will come up with in future.

Advantages at a glance: