Tax compliance company Sovos has unveiled its indirect tax suit for SAP.
The new offering, announced Tuesday (Oct. 1), is a “first of its kind” solution for indirect tax determination, electronic invoicing, filing and reporting that works in any SAP environment.
“With our deep expertise in tax compliance and decades-long partnership with SAP, Sovos has developed a platform unlike anything that exists in the market today. Our Indirect Tax Suite for SAP not only meets today’s compliance needs, but is also fully prepared for the future of continuous transaction controls and e-invoicing,” Sovos Chief Product and Strategy Officer Steve Sprague said in a news release.
“Also, our alignment with SAP’s Clean Core strategy means businesses can confidently transition to S/4HANA, knowing their tax compliance processes are secure, scalable, and future-ready.”
According to the release, the indirect tax solutions work with any type of SAP environment — ECC and S/4HANA (on-premises, private/public cloud), while also aligning with SAP’s clean core strategy, letting businesses maintain complete and continuous compliance with tax and regulatory processes without compromising their ERP systems.
“This approach reduces the complexity of tax compliance in their SAP environment, while supporting long-term system stability and scalability. It also helps businesses prepare and meet deadlines for future SAP upgrades — preventing tax challenges from hindering their implementations,” the release said.
PYMNTS spoke last month with Wendy Walker, vice president of regulatory affairs at Sovos, about a recent warning from the IRS about the prevalence of tax scams, especially ones involving fraudulent claims for tax credits.
“This is a type of fraud where the scammers are encouraging taxpayers to take credits that they’re not actually eligible for, so that the scammer can collect higher tax preparer fees from the taxpayer,” Walker said. “The more forms and schedules that they create for a taxpayer, the higher the fees they can charge.”
According to the IRS, most of these scams involve tax credits such as the fuel tax credit and the sick and family leave credit. Scammers often misrepresent these credits, promising significant refunds and luring businesses into filing fraudulent claims, bringing about expensive consequences for the businesses involved.
“These are scams that have made the IRS’s Dirty Dozen list, which is a list that represents the worst of the worst scams,” Walker told PYMNTS. “And the IRS compiles that list annually. They distribute it throughout the summer leading into the next tax season.”
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