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Although many areas of finance and taxes have already been fully or partially automated by companies in Slovakia, corporate income tax (CIT) calculations are still mostly prepared manually. Many companies use self-drafted calculations in Excel, with separate workings outside the calculation and many additional manual steps. CIT return forms are often typed manually on the web portal of the financial administration.
In contrast, the overall market trend is moving towards automation:
Tax and Business Assurance teams at PwC Slovakia have developed a solution which automates end-to-end CIT compliance.
Corporate Tax Flow is a web application which uses a single user friendly environment during the whole CIT compliance process. Corporate Tax Flow collects all information on source data, tax adjustments, comments, approvals and outputs in one package.
The solution can be used in the year-end CIT compliance process, tax provisioning and monthly tax estimates. Roll-forward functions, automated updates of tax adjustments based on updated financial data, and account tagging ensure automated, fast and transparent CIT return preparation. The data can be archived and used in the future to trace adjustments made.
Corporate Tax Flow is now accessible for you as software as a service.
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The main differentiators of the Corporate Tax Flow compared to traditional CIT calculation preparation are as follows:
We are still working on the development and enhancements to Corporate Tax Flow. We will be adding the following features:
EUR 5,000 / entity*
* The basic price can be adjusted based on your access to the tool, cooperation with PwC during preparation of the CIT return, your involvement in the testing process and other criteria. Please contact us for a tailored fee quote for your company.
Director, Risk Assurance, PwC Slovakia
Tel: +421 902 953 854
Manager, PwC Slovakia
Tel: +421 903 580 082
Director, PwC Slovakia
Tel: +421 911 920 006