Both direct and indirect tax departments employ data analytics, big data and Artificial Intelligence/Machine Learning in tax administration to make it more effective, free of official discretion, business and taxpayers friendly https://www.taxtmi.com/news?id=26376 The central fiscal authorities employ data analytics, big data and AI/ML in tax administration to identify fiscal risks and enhance compliance. For indirect taxes, Project ADVAIT provides reports, interactive dashboards and analytical models-using data matching, network analysis, pattern recognition, predictive analytics, text mining and forecasting-to detect evasion and support policy. For direct taxes, analytics and AI/ML identify high-risk cases, prompt taxpayers on return mismatches, send advance-tax reminders, enable large-scale information storage and search, visualise taxpayer networks, and segment taxpayers for targeted anti-evasion efforts. en-us Tue, 28 Mar 2023 11:27:18 +0530 Tue, 28 Mar 2023 11:27:18 +0530 TaxTMI RSS Generator Both direct and indirect tax departments employ data analytics, big data and Artificial Intelligence/Machine Learning in tax administration to make it more effective, free of official discretion, business and taxpayers friendly https://www.taxtmi.com/news?id=26376 The central fiscal authorities employ data analytics, big data and AI/ML in tax administration to identify fiscal risks and enhance compliance. For indirect taxes, Project ADVAIT provides reports, interactive dashboards and analytical models-using data matching, network analysis, pattern recognition, predictive analytics, text mining and forecasting-to detect evasion and support policy. For direct taxes, analytics and AI/ML identify high-risk cases, prompt taxpayers on return mismatches, send advance-tax reminders, enable large-scale information storage and search, visualise taxpayer networks, and segment taxpayers for targeted anti-evasion efforts. News - Tue, 28 Mar 2023 11:27:18 +0530 https://www.taxtmi.com/news?id=26376