Deloitte annual conference Tax & Legal: Taxnology, how fiscality changes due to technology

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Deloitte annual conference Tax & Legal: Taxnology, how fiscality changes due to technology

17 octombrie 2017

Deloitte introduced the firm’s apps for digital era

The impact of the latest tech changes on fiscality were discussed from several perspectives during the annual conference Taxnology, organized by Deloitte Romania and Reff & Associates, the law firm representing Deloitte Legal in Romania on Tuesday, 17 October.

Deloitte experts along with 180 representatives of some of the largest investors present on the Romanian market have discussed the impact of technology on the relationship between taxpayers and tax administration and the legal implications of using the technology.

“The changes resulted due to technology have fiscal implications from several perspectives. First of all, the investments in new technologies or their integration in business have an impact on the operational costs and the tax implications are significant. Secondly, complying with the fiscal obligations simplify through automatic processes, reporting and statements and reduce administrative costs. Last but not least the transformation of business models drives changes in tax legislation that take into account the new reality of the digital economy,” said Dan Badin, Partner in charge Tax & Legal Deloitte Romania.

During the event three apps developed by Deloitte Romania were introduced:

D.TAX is placed between taxpayers and tax administration trying to help:

The contributor to report correctly, completely and in due time their transactions in the VAT area and the tax administration to have the required information.

It is an innovative solution developed by Deloitte Romania dedicated to VAT reporting which is independent from the accounting system of the users.

D.TAX works in four stages:

  • Uploads information from multiple sources from the taxpayer’s ERP
  • Validates information (ie TVA codes which have been introduced)
  • Generates the review of the tax returns
  • Generates the final form of the tax returns

The use of D.TAX reduces repetitive time consuming operations of the employees who can thus focus on added value activities.

Total Rewards is an app that helps employers analyze the remuneration package through three filters:

  • Effectiveness from the human capital perspective
  • Fiscal efficiency
  • Degree of conformity with the legal requirements

Total Rewads is an automated tool through which companies are able to obtain quickly a diagnostic regarding total rewards of their employees based on which they can model their HR policies and make them more efficient in order to identify the vulnerable spots within the organization.

SCORE is an app that checks the degree of conformity with the legal requirements for commercial properties operators, for all the relevant fields as well as fire security, environment, civil protection:

  • Facilitates the collection and archiving of documents by the user
  • Establishes the necessary documents for fulfilling the activity in the report stabilește (e.g. authorizations, permits, plans, contracts etc.)
  • Generates a report which sums up to which degree the existing documentation is compliant with the legal requirements
  • Identifies the legal requirements which have not been met, evaluates the risks and presents the potential penalties

The tendencies in tax administration in the technology context were presented by Daniel Tudor, vice president of the Tax Authority (ANAF), coordinator of the DG Tax Antifraud division and Loredana Ilie, general manager at the direction for large taxpayers.

David Wright, Deloitte UK Partner have spoken about the experience of the large contributors and tax authorities related to the impact of technology as well as about how fiscality will change due to technology.

In the second half of the day, five interactive workshops on the following topics took place: implications of the antifraud audits, data exchange globalization between tax authorities, practical tax and legal aspects regarding e-commerce, directors liability, tax audits.

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