Validate receipts in 3 seconds!
VAT rules & rates vary by country and the rules and legislation are constantly changing. If your company operates in multiple jurisdictions, it becomes more complex to ensure your employees are collecting receipts and invoices that are compliant. It is difficult for employees to keep pace with this complexity even with some VAT training.
Taxback International has created a Mobile App solution to this problem, VATConnect- Real-Time Validation. It is so powerful that it can validate receipts and invoices for VAT compliance in under 3 seconds for any country in the world.
Complex and diverse VAT legislation & rules
- Every country has their own variation on VAT rules and regulations for compliance
Focused on core job
- Too busy to give due consideration to tax rules and regulations.
- High level of incompliance, typically 60%+ is considered the norm.
Apathy to VAT Compliance checks
- Employees will receive the expense payment regardless of whether or not the receipt or invoice is VAT compliant.
Retrospective corrections are notoriously difficult
- Difficult to contact vendors and no repercussions for issuing incompliant receipts or invoices.
- Time at issuance before payment is the crucial window of time to obtain corrections.
VATConnect-Real Time Validation a Mobile App with pre-built connectivity to our VAT intelligence engine, powered by Artificial Intelligence.
- Each employee downloads the Mobile App from their Expense Management System provider.
- The App automatically checks the VAT rules & regulations without any human intervention from either party.
- Automatic feedback within 3 seconds on compliance or not.
- Incorrect invoices or receipts can be rectified by the employee at the place of issuance in real time.
The solution means there is no onus on the employee to know the rules, just an onus to use the App on the go. The benefits are enormous as it maximises compliance and VAT reclaim levels with minimal input required from the employee.
Take photo of receipt/invoice
Passes to Taxback International’s Artificial Intelligence (A.I.) image software
Artificial Intelligence (A.I.) validates the receipt & provides confirmation or more details.