VSoft Tax Reporting

The tool has been designed for comprehensive servicing of all types of tax returns, which financial institutions and all types of enterprises are obliged to send to the Ministry of Finance. It applies to the reports where the institution is a payer of personal income tax or corporate income tax, as well as those where the institution does not act as a tax payer (CIT, VAT, etc.). The solution also provides support for local tax returns addressed to individual municipal administration authorities.




VSoft Tax Reporting supports



PIT (personal income tax)

CIT (corporate income tax)

VAT (value added tax)

Transfer prices

FATCA reporting

Local taxes


Our tax solutions have been implemented, among others, in the three largest banks in Poland and process hundreds of thousands of tax declarations annually.

What will VSoft Tax Reporting give you


MINIMIZING COSTS

Through electronic reporting using e-tax returns sent to the Ministry of Finance.

1

MASS GENERATING AND SENDING TAX RETURNS

Thanks to the use of architecture that enables the most time-consuming tasks in the background.

2

UNIFICATION AND AUTOMATION OF PROCESSES RELATED TO REPORTING

Recurrence, regardless of the type of tax return, speeds up the process, starting from data entry, and ending with sending them to the relevant authority.

3

QUALITY AND CONSISTENCY OF INFORMATION

Thanks to the complex validation and verification of the entered data.

4

SECURITY OF THE TAX RETURN SETTLEMENT PROCESS

Assured by dividing the system into modules available only to users with certain permissions.

5

OPERATIONAL RELIABILITY

A system is implemented at institutions processing hundreds of thousands of tax returns annually.

6

ADAPTATION TO NEW LEGAL REGULATIONS

In the field of reporting only via electronic channels.

7

5 stages of the reporting process carried out by VSoft Tax Reporting



Collection, verification and aggregation of data
To create tax returns it is usually necessary to use data from various sources - both from other systems and those manually entered. The data collection stage is very important as the correctness of the settlement depends mainly on the quality of the information transferred to the system. The system provides automatic and manual multi-stage verification and validation of data using a mechanism that separates the users entering and accepting data (maker-checker). In addition, the system provides a set of verification reports so that the process of data validation is as short and as accurate as possible. In addition, the product provides databases that facilitate verification:

  • TERYT database (National Register of the Land Territory Division),

  • postal code base,

  • database of tax office properties,

  • database of properties of local administration authorities,

  • database of land and mortgage registers.


Taking into consideration the fact that the exchange of information between the systems inside the institution is provided in various ways, the system has an extensive data loading module based, among others, on:

  • processing of input files in any format,

  • web service interfaces for external systems,

  • batch processing,

  • entering data through a dedicated web application.

Preparation of the tax return
After completing the verified and aggregated data, the system prepares tax returns. It is possible to conduct an acceptance path before sending/submitting a declaration, depending on the status of a given declaration.
Sending a tax return
Created declarations are sent via electronic communication channels (e-declaration gateway) or in paper form. Additionally, in order to reduce settlement costs, the system provides external interfaces that can be used to publish tax returns in electronic form on customer accounts (electronic banking) or to provide them by e-mail. The process of generating and sending of declarations is carried out in two modes:

  • single tax returns,

  • mass sets that can contain thousands of tax returns.

Support for corrections
If data provided to the authority are incorrect, corrections of tax returns are generated and sent along with justification and additional letters for taxpayers.
Support for e-declarations
In order to limit the time and costs of the entire process, and additionally, to ensure that all assumptions of the Income Tax Act from January 1, 2015 are met, the system has a module that enables comprehensive electronic evidence coverage, signing with qualified certificates, sending via the Ministry of Finance gate and handling official acceptance certificates.

to local administration authorities