End-to-End Income Tax Process

We cover the complete cycle of your income tax processes

As in many other areas, the need for digital solutions and processes is more and more increasing, also in terms of income taxes. Both internal and external stakeholders require tax relevant information within ever shorter time frames. Many foreign jurisdictions have even started to request real-time information from taxpayers. Although German tax authorities have not yet started to demand information in real-time, stakeholders such as CFO´s, financial investors or family offices expect real-time reporting that encompasses the entire field of income taxes. To comply with such requests, relevant information must of course be made available and processed in digital form.

Moreover, to enable your employees working from home as well, a high degree of digitalization is key. The pandemic in 2020/2021 has shown how important remote work actually is.

The responsible persons should perceive the digitalization requirements as an opportunity to make reasonable changes to their tax department. To consequently fulfill these requirements, it is essential to conceive, analyze and consequently establish the entire income tax relevant processes „end-to-end” both in a transparent and integrated manner.

Transparency helps end users to focus on their core competence, i. e. dealing with tax law and its reasonable application. However, this is only possible if the information available in the tax computation process can easily be comprehended, i. e. without extensive analysis. An integrated process means that data is preferably featured with tax relevant information at source and ready to be processed within a harmonized IT landscape that promotes a highly automated workflow at the same time. The goal is to avoid manual interventions and data transfers.

WTS has many years of experience in this field, having successfully implemented a large number of digitization projects for clients in a wide range of industries and company sizes. Our clients thus benefit from our diverse, field-tested "best practice" digitization approaches in the area of end-to-end income tax processes.

Our claim is to think holistically about end-to-end income tax processes. For this reason, in addition to automation solutions, we also focus on other aspects, ranging, for example, from technical support and process consulting to change management. Our experts provide you with targeted support in all project phases and, if required, even beyond a "go live".

The implementation of a successful project ideally starts with the joint development of a "digitization roadmap". This enables a structured and scalable approach with a clear definition of objectives, taking into account the (global) IT strategy of your company. Subsequently, your customized implementation strategy can be implemented jointly and flexibly, step by step.