Tools
Tax Depreciation Review Through Data Analysis
A tool for comprehensive tax depreciation inspection and review of tax carrying amount.
The tax depreciation analysis tool enables a bulk review of the register of tangible and intangible fixed assets in accordance with the current tax legislation.
The tax depreciation analysis tool is one of the tools employed in data analytics for the corporate income tax using information from the client’s assets register in the form of a data file. Once the data is uploaded to the analytics tool, automated tests verify the appropriateness of specific provisions of the Income Taxes Act for tax depreciation applied and identify specific items that may be in breach of the Act or could be modified to achieve savings.
The tax depreciation analysis covers, but is not limited to:
- Accuracy of the calculation of tax depreciation for tangible and intangible fixed assets in general terms,
- Straight-line and accelerated depreciation methods,
- Interruption of tax depreciation,
- Depreciation of intangible assets, incl. with several technical improvements,
- Extraordinary depreciation according to Section 30a of the Income Taxes Act,
- Depreciation Group 1A,
- Tax depreciation of disposed assets in the year of disposal,
- Tax depreciation of photovoltaic power plant equipment.
Benefits:
- Efficient and swift review of all fixed assets
- Significant reduction in the risk of errors and potential penalties
- Identification of opportunities
- Detailed evaluation of analyses together with recommendations to minimise risks
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