Current Situation
Tax collection offices need to ingest tax declarations, match them with historical data, apply rules based on constantly evolving legislation on rates, credits, and so forth to calculate the tax due and then move to revenue collection.
Goals and Objectives
Tax agencies seek tools that can help them automate tax processing, analyze data, and detect anomalies in tax filings, easily implement regulatory changes.
Technology Deployed
Hardware: Servers, storage, and network equipment
Software: Industry-specific tax processing software; intelligent process automation software; analytics and AI (and GenAI) to determine current policies, rules, and regs; compliance management; workflow management; and legal monitoring platforms with alerts
Services: Business, IT services, cloud, and next-gen security services
Use Case Summary
By automating routine legal compliance tasks and using cognitive and machine learning technologies, agencies should be able to boost their tax processing productivity and ensure compliance with new laws and requirements. GenAI can be used to check compliance of filings against regulation and to synthesize information to build 360-degree views for tax inspectors.