KPMG in India’s tax automation team assists companies in identifying areas of technology interventions and helps implement technology solutions for tax data management, automating repetitive and manual processes and driving data analysis
With a changing tax compliance environment, tax and finance leaders are keen to adopting technology within their function in order to:
Improve data accuracy
Reducing manual effort of tax data collation and reconciliations
Identify tax risks and potential tax leakages
While, ‘off-the-shelf’ tax technology tools will address some challenges, the areas mentioned above typically need implementation of customised (environment specific) tax technology solution which are integrated into the ERP systems of clients.
Illustrations of areas within tax functions which typically need tax automation are:
- Compilation of tax compliance data from multiple sources (e.g. multiple ERPs)
- Tax data analytics to identify potential tax risk areas and plus revenue leakages
- Voluminous repetitive tasks that are done manually
- Automated reconciliation of voluminous transaction tax data (combined with a managed services model)
- Automate TDS reconciliation and reporting for clause 34(a) of tax audit report under Indian tax regulation
- Enablement of TCS related reports
- GST relevant validations within ERP and using Robotic Process Automation – e.g. e-Invoice validity check, vendor non-compliance, input credit verification etc.
- GST analytics based on ERP and Application Service Provider (ASP) data
- Sensitisation within ERPs to build checks and balances for tax processes.
With our highly experienced team, we can assist in identifying tax processes where value added tax automation will:
Assist in implementing tax technology to automate a particular tax process; or
Provide tax technology consulting services and collaborate with your IT team for solution development
Our automation team also assists tax leaders to actively contribute to finance transformation projects to help ensure that tax requirements and pain points are captured and addressed by means of technology solution or process change.
Reach out to our team for a discussion on tax automation (tax transformation)