Why use tax and trust compliance software
Tax compliance software streamlines the tax preparation and filing process, ensuring accuracy and efficiency. It reduces the risk of errors, ensures compliance with up-to-date tax laws, saves time, and provides detailed reporting and analytics for better tax management.
What are the types of tax compliance software
Key features of a platform could include automated tax preparation and lodgement capabilities with local authorities, administration requirements to manage multiple entities, data collection, real-time tax law updates, and centralised data management. It supports Direct Tax, Indirect Tax, CbCR, and BEPS Pillar Two compliance, offers detailed reporting, robust analytics, and seamless integration with existing ERP and financial systems, enhancing accuracy and efficiency.
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Tax Preparation and Tax Return Lodgement Software
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Global Minimum Tax Software
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Corporate Tax Reporting Software
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Tax Data Management Software
Tax preparation and return lodgement software
Tax return preparation and lodgement is the ‘bread and butter’ compliance service provided by accounting firms in ANZ.
How to choose the best tax preparation and return lodgement software
Choosing the best tax preparation software requires careful consideration of several factors. Start by evaluating the reputation and tax and accounting expertise of the software provider to ensure you will be compliant. Consider what integrations, automations and data sync features are available to help streamline your workflow, and reduce time spent per job. For example, is it just a click or two to get a tax return sent, signed and saved securely? Is there integrated tax research content in the software? And lastly what training and support is provided – is the support team local to your region?
Software Solutions:
Global minimum tax software
A BEPS Pillar Two software solution ensures global tax compliance by automating calculations for minimum tax requirements, reducing manual errors, and offering real-time updates. It enhances accuracy, streamlines reporting, and provides centralised management for multinational enterprises.
How to choose the best global minimum tax software
Top features to consider for BEPS Pillar Two compliance and reporting software include automated tax calculations, timely updates on global tax regulations, flexibility of software to quickly adapt and align to changing OECD Pillar Two rules, centralised data management, robust analytics, user-friendly interface, and seamless integration with existing financial systems.
Software Solutions:
Corporate tax reporting software
Corporate tax reporting software is vital as it ensures compliance with tax laws, reduces errors through automation, and saves time. It centralises data, provides real-time updates, and generates detailed reports, enhancing accuracy, efficiency, and strategic tax planning.
How to choose the best tax reporting software
Top features of corporate tax reporting software include automated data collection and tax calculations, real-time updates on tax laws, centralized data management, detailed and customisable reporting, robust analytics, user-friendly interface, and seamless integration with existing ERP and financial systems. Product solutions such as compliance tracking for Direct and Indirect Tax, CbCR, and BEPS Pillar Two are essential for multinational corporations.
Software Solutions:
Tax data management
Corporate tax data management involves the systematic collection, organisation, and analysis of tax-related data. It ensures accuracy, compliance, and efficiency in tax reporting and filing processes, centralising data for easy access, audit readiness, and strategic tax planning.
How to choose the best tax data management software
Top features for corporate tax data management software include automated data collection and integration, centralised data storage, real-time updates on tax regulations, robust security measures, detailed reporting and analytics, user-friendly interface, and customisable workflows. Additionally, seamless integration with ERP systems, audit trails, and support for compliance with Direct Tax, Indirect Tax, CbCR, and BEPS Pillar Two are essential for comprehensive management.
Software Solutions:
Wolters Kluwer’s tax compliance software
Wolters Kluwer premium solutions have been curated for businesses of all sizes and across different industries to ensure you are tax compliant.
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CCH iFirm
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CCH Integrator Suite
CCH iFirm suite
CCH iFirm is an integrated suite of cloud-based software which helps accounting firms run a more efficient and profitable practice. With apps for practice management, documents, client accounting, tax preparation, client communication and data analytics, CCH iFirm enables a more seamless end-to-end workflow.
Apps
CCH Integrator suite
CCH Integrator is a specialised tax engine and platform integrating end-to-end reporting and compliance processes and providing the granularity of data specifically for the Tax Department. CCH Integrator simplifies compliance complexity with automated workflows, configurable reporting, and built-in reconciliation features. Designed to streamline tax management across multiple jurisdictions, it is a cost-effective choice for modern enterprises and tax firms.
Modules:
Tax compliance software expert insights
Read our expert insights content on topics for tax compliance technologies and trends.
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ArticleComplianceFinanceTax & AccountingSeptember 18, 2024
Modernising the corporate tax function - technology insights
OneTeam’s focus on simplifying data management and streamlining workflows, combined with CCH Integrator’s tax expertise, creates a powerful toolset for tax professionals. -
ArticleTax & AccountingMay 20, 2024
Overcoming challenges in preparing GloBE Information Return (Pillar Two)
Speaking at a panel discussion at the International Tax Review’s Asia Tax Forum, Andy Hung, Wolters Kluwer’s Director of Product, says the top hurdles tax teams experience include legislative uncertainty, understanding data and time constraints. -
ArticleTax & AccountingMarch 14, 2024
The future of auditing: a comprehensive guide to data-driven analysis
Step by step guide to data-driven root cause analysis for external auditors. -
ArticleCorporateTax & AccountingMarch 06, 2024
BEPS Pillar Two: Understanding data requirements and managing data
Outside of the vastness in scale of the application of the rules and the complexity of their nature, one of the key challenges is the requirement to complete the calculations at various levels within a group and across borders.
Tax compliance software case studies
Read about what customers implemented and how it met their tax compliance requirements.
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Case studyTax & AccountingJune 26, 2024
CCH iFirm enables improved workflow management for RCB Advisors
"CCH iFirm offers a very good solution to the accounting profession ‘under one roof’." - Rajesh Chawla, Director, RCB Advisors -
Case studyTax & AccountingMay 07, 2024
Herkess & Partners simplifies operations with CCH iFirm: A single, integrated cloud system
"We are very happy with CCH iFirm; it’s a product that is quite easy to use and learn, and as an integrated solution, it is much easier to manage compared to having multiple solutions or service providers." - Augustine Au, Partner, Herkess & Partners -
Case studyTax & AccountingApril 26, 2024
Lineage turns to CCH Integrator to streamline complex tax provisioning and statutory reporting management
CCH Integrator is integral to streamlining Lineage's tax provisioning and consolidated returns with tight turnaround times and auditing pressures. -
Case studyTax & AccountingApril 16, 2024
AstuteMed transforms workflow management and enhances billings with CCH iFirm
"The adoption of CCH iFirm has fundamentally transformed our approach to workflow management." - Sandeep Singh, Director, AstuteMed
Frequently asked questions about tax compliance software
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Q: What is tax compliance software?A: Tax compliance software helps accounting firms streamline the preparation, tracking and lodgement of Individual, Company, Partnership, Trust, Self-Managed Superannuation Fund (SMSF), Fringe Benefits Tax (FBT) returns, Instalment Activity Statements and Business Activity Statements (BAS) for their clients.
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Q: What does tax compliance software do?A: Tax compliance software automates tax-related processes, facilitates accurate return preparation and tracking, helps minimise errors, facilitates information and research access and supports timely, compliance tax lodgements.
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Q: What is the purpose of tax compliance software?A: Tax compliance software helps firms service the compliance needs of their clients as efficiently as possible.
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Q: How much does tax compliance software cost?A: A tax compliance software cost varies depending on your firms requirements such as features, users and reporting. Each software will be priced differently based on these requirements and it is important to understand how the software adds value and the return on investment to your firm.
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Q: How to choose the best tax compliance software?A: Tax compliance software costs vary depending on the provider, the features offered, and the scale of usage. Typically, cloud-based solutions are available on a subscription basis.
Contact a tax compliance software consultant
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