Recapitulative Statement

Offers solutions related to the filing of recapitulative statements (also known as EC Sales Lists) for businesses engaged in cross-border transactions within the European Union (EU).

Automated Data Collection

Collects the relevant transactional data from the accounting software, which are necessary for generating Recapitulative Statements. This includes sales of goods and services to VAT-registered customers in other EU member states.

Compliance Updates

The platform provides automatic updates regarding changes in EU VAT regulations impacting Recapitulative Statements. It can also issue alerts and reminders to users regarding upcoming filing deadlines, potential compliance issues, or data discrepancies that require attention.

Statement Generation

Creates the Recapitulative Statements in the required format as specified by EU VAT regulations. This includes structuring the report with the necessary fields such as VATINs of customers, transaction values, VAT rates, and totals for each EU member state where transactions have occurred.

Flexibility

Recapitulative Statements can be tailored based on specific business needs or reporting preferences. This could include selecting reporting periods (e.g., monthly, quarterly), adjusting currency conversions (if applicable), and including additional data for detailed analysis or compliance purposes.

Integration with Tax Authority Portals

Facilitates the electronic submission of recapitulative statements directly to tax authority portals or systems. This integration streamlines the filing process, reduces manual errors associated with data entry, and ensures timely compliance with reporting deadlines.

Reporting & Audit Trails

Provides reporting capabilities related to recapitulative Statements, offering detailed summaries, breakdowns by EU member states, and audit trails to keep track of any changes made to the declaration, and providing a detailed report to auditors on review processes.

Try it for free

Unlock all generate.TAX features for 30 days to help you with the generation of VAT returns

  • N Connects to Xero
  • N Safe and secure
  • N Cancel any time
Sign up