Tax technology streamlines tax compliance by converting research into coded logic, integrating with ERPs and automating reporting.
Tax Technology is structured as a five-stage framework: Continuous Tax Research to determine tax rates and place-of-supply principles; Content Creation/Development converting research into templates and coded logic; Testing in sandboxes and limited production to validate results; Configuration and Integration of data patches into client ERPs to drive invoicing; and the Tax Tool stage automating statutory compliance, returns, annexures, and report generation for government filing, with accuracy and collaboration between tax experts and programmers emphasized. (AI Summary)