Whitelist
The White List of Taxpayers facilitates the work of D365 F&O users by allowing them to verify the data of counterparties directly in the system with the registers of tax authorities. Thanks to these additions, it is possible to automate the checking of a VAT taxpayer’s status (or the status of their bank account) and to review the validation history. The functionality of the White List of Taxpayers is supported by two data retrieval interfaces provided by the Ministry of Finance.
Conducting international transactions becomes easier with entities recognized as reliable VAT taxpayers. This approach can help avoid tax misunderstandings and facilitate the trading process.
Incorporating a whitelist of taxpayers into the ERP system can minimize the risk associated with tax fraud. Taxpayers on this list are usually deemed more trustworthy, making it less likely for them to be involved in tax irregularities.
Maintaining a whitelist of taxpayers in the ERP system also aids in complying with local tax regulations.
Utilizing a whitelist of taxpayers helps avoid potential sanctions and tax penalties that could arise from transactions with unethical taxpayers.
A comprehensive verification history of taxpayers on the whitelist enables tracking and documenting the verification process which can be crucial during audits and tax inspections.