Most businesses would have started making the necessary changes in order to implement GST.
But what happens next?
It is crucial to have insight over what's going on in order to minimise risk and avoid penalties.
Given that GST is a multi-stage consumption tax, the accuracy of data management in generating reports for tax filing is critical in order to remain compliant.
PwC has developed a solution that delivers your GST on a single platform, giving you the full visibility and control you are looking for.
What are the benefits of using Comply First Time?
Bring your GST reporting on to a single platform with a consistent user interface
Reduce the risk of mistakes on your GST returns which can lead to penalties, interest charges or overpayments of tax
Insulate yourself from time consuming and costly regulator reviews
Cloud or on premise implementations available to suit your needs and IT policies
Take advantage of flexible and bespoke setups to get the reporting that is right for your business
Make Comply First Time your own with optional customisation and tailored reports
Reporting to Customs through e-filing
More efficient processes, saving time which can be better used for true value add activities rather than preparing spreadsheets
Take control of your compliance process with integrated process controls
Complete your obligations in your own secure environment, without having to send data outside of your business
Comply First Time brings you the best of PwC’s tax and finance function improvement capabilities to provide a tailored solution for your GST compliance needs including:
Integrated reporting across multiple entities / business units
A detailed audit trail of your process
Flexible and detailed data exception testing
Controls incorporated into each stage of the process
Comply First Time forms just part of a wider suite of offerings that PwC can bring to your finance function, including process review, data and process mapping, governance documentation and reviews, and regular update training programmes. Whether you are looking for a quick fix, or are undertaking a substantive update of your risk and governance processes, PwC and Comply First Time can meet your requirements.
Did you know?
Implementing Comply First Time need not cost a cent?
By taking advantage of the integrated GST accrual accounting module, Comply First Time can be funded directly from the benefits provided! Further, many clients have identified under claimed input tax credits during the implementation process.
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