Sales & Use Tax / VAT
apexanalytix SUT experts and proprietary firststrike technology pinpoint recovery opportunities – using the same data as an AP recovery audit.
What are the most common tax overpayments?
- Tax rate changes and seller does not update the tax rate.
- Tax jurisdictions change and seller does not update.
- Purchaser submits tax to tax authority based on the wrong tax rate.
- Purchaser submits tax to the wrong tax jurisdiction.
- Purchaser makes a duplicate tax payment due to invoicing error.
Our technology quickly analyzes large sets of data from disparate payment systems to identify and recover every tax overpayment.
Statement credits and duplicate payments would be missed in just a tax and jurisdiction review. Our technology catches them and puts every overpayment back on your books.
Producing Impactful Results. apexanalytix tax professionals found that the US operations of a Global 2000 company repeatedly paid both sales and use taxes on the same purchase transactions. We filed a successful refund claim for approximately $3 million in overpaid taxes.
Benefit from expertise and technology to help you identify and recover overpayments.
Two distinct advantages set apexanalytix apart from other global tax services providers. First, we’ve built our own team of highly experienced professionals. That stands us in stark contrast to the many providers who rely on armies of temp workers or junior personnel to conduct tax reviews.
Second, our team is armed with apexanalytix firststrike®, a software program that can quickly analyze large volumes of data from disparate payment systems and platforms. We simply find more and recover more in less time. We offer the same technology as licensed software – allowing you to continuously monitor disbursements and protect against future tax overpayments.
This winning combination of experience and technology-enabled analysis means better-informed advice and air-tight claims.
The apexanalytix advantage
- Our own full-time team of highly experienced professionals who know multistate taxes inside and out will help you
- Professionals that monitor ever-changing tax laws and help us create an audit plan specifically tailored to your operations
- Project managers who use processes honed through decades of experience with Global 2000 companies
- Software analytics to analyze large volumes of data from disparate systems in record time – helping us find and recover more in less time
- A prevention-focused report of the issues we uncover – from errors attributed to work processes and ERP settings to mistaken tax law interpretation
- Compliance assessment
- Identification of overpayments
- Development of refund/credit claims
- Management of the recovery process
- Confirmation that all payment systems are configured to apply the appropriate tax
- Root cause analysis of errors uncovered
- Recommendations for work process changes to improve the accuracy of future tax payments
- Expert audit defense
- Project-related research and consulting services
- Reports of taxes paid by taxing authority, vendor, spend category or other parameters
- Software to monitor tax payments proactively and prevent costly errors
Broaden your recoveries with comprehensive global audit services
- Accounts payable audits and supplier statement audits to help you find and recoup duplicate payments, missed discounts, uncaptured vendor statement credits and more. Learn more.
- Retail merchandise audit services that shorten audit cycle times and help you recover overpayments across all aspects of your retail operations – from accounts payable, pricing and promotions to vendor allowances, freight, inventory and deal terms. Learn more.
- Pricing and contract compliance audits that explore your direct and indirect spend to ensure negotiated prices and terms are making their way to your bottom line. Learn more.
- Pre-escheatment and unclaimed property recovery to help you recover unclaimed property, avoid fines and keep funds from being escheated to government authorities. Learn more.
- An audit of taxes paid on goods and services to help you recover any overpayments, identify your potential exposure and prepare a rigorous, fact-based defense for tax authorities. Learn more.