Effective ways to use artificial intelligence in tax issues

We live in an information age characterized, among other things, by the introduction of increasingly developed technologies and artificial intelligence into all fields of human activity. Why should taxation be overlooked? When an otherwise reluctant state administration has made such a great progress towards automating communication with taxable persons and entities as regards tax return oversight, as taxable entities and tax advisors we certainly should not fall behind.

In this news issue, we would like to introduce you to a service perhaps not associated with tax, accounting and law firms. We are talking about the WTS Global specialized department based in Regensburg, Germany, engaged in developing IT tools to facilitate numerous aspects of internal tax management.

How it all began …

The original staff to develop these IT tools switched to WTS Global from a major international company established in Germany which was registered for VAT in several EU Member States. In this company, there was a need for a program that would help to identify potential errors in VAT returns in countries in which the company was registered for VAT purposes.

WTS Global has already completed this project. During client tests, the most efficient solution turned out to be nesting the “VAT Tool” program into the accounting software used by the client.

After implementing the program at this one client and using it successfully for several months, WTS Global decided to offer this program to all its other clients. The program can be implemented only using SAP accounting software. Currently, the program is compatible with most tax systems used in Western and Central Europe.

After the success!

After the successful implementation and use of the VAT Tool by the clients, the WTS Global Development department staff decided to identify further client needs in the tax administration field. Over a few months, they developed further programs for helping clients, for example

• checking the validity of trading partners’ tax identification numbers (VAT ID Check);
• preparing an e-mail notifying a supplier that its invoice has been rejected, e.g. due to an error in customer identification (Vendor Messaging Tool);
• identifying the VAT account when entering each position (Teasy Tool).

Many clients, in particular from German-speaking countries, have shown interest in using the programs. Currently, most clients are engaged in the simultaneous implementation of several programs. The programs are available in several language versions, enabling their implementation in all EU countries.

What else?

The WTS Global IT department responsible for developing programs to help clients with their tax issues intends to carry forward the work it began. Given the experience they have gained during programming, the staff are well-prepared to tailor any program to the client’s needs and to process any general requirement that might give rise to another program for other clients.

If you identify a need or opportunity to use artificial intelligence in processing a large volume of data or in any internal control system, please feel free to contact us. We can pass on your details to the WTS Global IT department or otherwise facilitate communication, in order to enhance the potential offered by these advanced technologies certain to be further developed in the future.