Excise Tax Management is designed to help companies dealing with excisable goods to manage excise tax-relevant master data, track the movement of excisable goods and calculate accurate tax amounts. With increasing regulatory complexity, new taxes and advancements in technology – the solution is designed to handle complicated excise tax schemes, end-to-end goods tracking and tax-related processes and high volumes of inventory data, plus provide flexible reporting as business requirements change.

Companies dealing with excisable goodslike alcoholic beverages, tobacco, sugar and chemicals need to accurately calculate and report excise taxes to remain legally compliant. The solution reduces the cost of tax accounting and reporting by incorporating excise tax processes into existing workflows, tracking all excisable goods movements and offering simplified stock ledger reporting. By providing comprehensive customizing and maintenance functionalities for tax-relevant data, the manual effort associated with data management is significantly reduced. In addition, compliance, risk management and audit costs are lessened by simplifying legal reporting and providing a seamless audit trail of excisable goods material movement.