Global VAT Reporting Tool (GVRT)

The EY GVRT is a broad value-added tax (VAT) and goods and services tax (GST) reporting solution that redefines and globally standardizes the preparation, production and reporting process. It is an EY cloud-hosted global compliance solution, which automates the preparation of indirect tax returns globally. ​

Related topics Tax Tax compliance

The team

Kai Eng Yeo

Kai Eng Yeo

EY Asean Indirect Tax Leader; Partner, Tax Services, Ernst & Young Solutions LLP

Boon Choo Chew

Boon Choo Chew

Partner, Indirect Tax — Goods and Services Tax, Ernst & Young Solutions LLP

Danny Koh

Danny Koh

Partner, Indirect Tax – Goods and Services Tax, Ernst & Young Solutions LLP

Indirect tax regulations are changing globally. Keeping up-to-date with the latest updates is not enough anymore. As increasing numbers of tax authorities around the world introduce new reporting requirements, businesses are under growing pressure to stay compliant with ever more complex requirements and changes. The introduction of transaction level reporting makes this even more challenging, removing the ability and the time to manually interact with data before its submission to governments.​

EY Global Technology helps in keeping acceptable compliance levels today while future-proofing one’s organization for tomorrow. The EY GVRT can help you stay in control.

  • Does your organization have trouble keeping pace with compliance around the world?​
  • Are your organization’s return preparation processes manual and time intensive?​
  • Does your organization struggle with data accuracy? ​
  • Are incorrect returns causing fines and penalties?​
  • Do your systems meet all of your reporting needs? 

 

EY teams have developed a cloud-based GVRT to help companies insource their indirect tax function by leveraging the latest VAT and GST reporting technology available, redefining the standards of indirect tax compliance reporting process. 

Key functionality

  • Transactional data loading

    • Quickly load data via “drag and drop” functionality ​
    • Multiple accounting and finance systems supported​
    • Load from multiple sources

  • Tax technical accuracy testing 

    • Extensive tax technical testing feature to stress test your transactional data before reporting​
    • Use pre-defined EY tax technical tests or customize your own​
    • Automatic testing of all transactions

  • Review and correct 

    • Automatic anomaly detection​
    • Review and edit transactions​
    • Track changes and repost schedules

  • Generate returns and working papers 

    • Broad digital audit trail compliant with digital reporting requirements globally, including UK MTD, SII and SAF-T​
    • Generate returns at a click of a button​
    • Supports multiple return types: VAT and GST, Intrastat, EC Sales Listings* ​
    • Automated indirect tax returns production with your transactional data either via an automatic feed from your business systems or via simple upload functionality​
    • File directly with the tax authority* 

    *functionality varies by jurisdiction

  • Dashboard and process tracking

    • Built-in obligation and deadline tracking via management dashboards​
    • Power analytics produce key indirect tax metrics, trends, liabilities and status reports

Why choose the EY GVRT? 

The EY GVRT provides organizations with a flexible, scalable, cloud-based solution for global indirect tax compliance. It helps to:​

  • Reduce compliance process time​
  • Enhance controls and governance ​
  • Manage indirect tax risk ​
  • Improve data accuracy and access

Get in touch for a demo

Like what you’ve seen? Drop us an email with your contact details to learn more.