The new digital tax function is defined by and supported by technology, enabling it to respond to the demands of the global digital economy. The effective management of tax big data enables compliance and offers insights that support strategic business decisions.
What can KRA Paymall Analytics consulting do for you
The new norm is to be connected. And right now, the tax department values that more than ever before. Global connectivity brought about by digital disruption links customers and clients, businesses with tax authorities, and tax functions with stakeholders in enterprises, resulting in new working relationships, business and operating models, and accelerating the transition to a hyperconnected global economy.
Whether you’re ready or not, the tax function is also quickly going digital. Disruptive technology, rising digital and regulatory standards, and requirements for reporting and exchanging financial information all require your business to change if it is to remain competitive.
This disruption does have a benefit that we refer to as connected tax. It is the new tax paradigm, supported by a centralised, well-governed, and straightforward tax data environment, which enables the tax function to add value, control expenses, and reduce risk for the enterprise whether you are a Fortune 100 company or a start-up.
The Tax Technology and Transformation (TTT) network has been set up to assist you in navigating the rapid innovation in operations, utilising the power of data, and addressing the new and previously unheard-of difficulties, dangers, and possibilities that come with change of this size. To assist you in developing and implementing a Connected Tax operational plan, from small-scale improvements to comprehensive transformation, we bring together more than 1,000 tax transformation strategists, innovation and technology specialists, and business leaders.
How EY can assist
digital tax planning
You can identify the immediate challenges facing your tax function and create an improved operating model strategy that is appropriate for the transformative era with the help of EY’s comprehensive approach to digital tax strategy, which addresses digital tax effectiveness, digital tax administration, tax technology, and tax big data.
Tax data analytics
All things digital are driven by data and analytics. Big data may already be being used by you to monitor and enhance client behaviour and experiences. Today, managing tax big data and using it for improved tax obligation visibility has also become a crucial success factor.
Tax RPA (Robotic Process Automation)
RPA is a reality today and is making tax processes more productive, despite the fact that it may appear like something out of the future. By introducing tax automation, we assist you in navigating your tax journey by ushering in a fresh wave of change for the present and the future.
Solution for Withholding Tax Payable: KRA DigiTDS
KRA DigiTDS is a complete cloud-based withholding tax payable solution that can manage Tax Deduction at Source (or “TDS”) on the purchase of goods and confirm a person’s status as a “designated person.” The DigiTDS Tax Collection at Source (TCS) module, which manages client declarations and facilitates transformation of the full TCS compliance and reporting cycle, is similar.