An automation tool for the Corporate Income Tax compliance process
Bringing the Corporate Income Tax compliance process to a next level, the era of digitalization
SmarTax is a digital tool that allows you to calculate and prepare the quarterly and annual corporate income tax (CIT) computation and is designed to reduce the time spent with the calculations through the automation of repetitive processes. The application incorporates the entire fiscal legislation in force, while also remaining flexible to adjust to any future changes in the corporate tax area.
With SmarTax you would be able to make fast decisions based on updated tax provisions, to compare tax treatments by quarter/year, to have better control over supporting documentation for sensitive transactions by using the archive module, or to export tax memos for group reporting and analyse data.
Key features
SmarTax is functional through a simple internet connection, archives...
the necessary information for completing the corporate tax returns, establishes the applicable tax treatment, based on the type o transaction or tax treatment previously applied and automates calculations on limited deductibility in cases specifically provided by the tax legislation, such as the legal reserve, interest expenses, sponsorships etc.
With a single click, the application automatically generates the corporate income tax return to be signed and submitted to the tax authority.
Archive the information
used for the preparation of the CIT computation
Replicate the tax treatment
from a quarter to another
Pre-set certain tax treatments
based on the transaction type/ the tax treatment used in previous years
Maintain a history
of the comments / information necessary to determine the correct tax treatment
Generate a predefined validation list
in order to ensure the accuracy of the analyzed information and the chosen tax treatment
Automate the tests
to determine the limited deductibility of certain elements (e.g. legal reserve, interest expenses, sponsorships etc.)
Generate a .pdf file
generate automatically the quarterly / annual CIT returns for submission
Key Advantages
SmarTax app ensures a high level of automation and control and thus considerably reduces human errors and the time allocated by tax and accounting professionals for this process
- 24/7 access through a simple internet connection;
- Unlimited number of users that may access the service;
- Data management, using the Microsoft cloud service (commissioned by Deloitte) – the application will be available on the Deloitte server.
- Archiving the information and file on a period equivalent to the statute of limitation period (including the possibility to upload files from previous periods), with the possibility to extend the period upon request;
- The application is developed in the native APEX platform from Oracle, which allows for an increased compatibility between the systems (e.g., Oracle, SAP etc.)
- The highest possible security level, provided by the Active Directory – Microsoft;
- Multi-factor authenticator (MFA) – access based on a username and password, and on an additional verification based on a unique code received on the telephone of the user (SMS).
Have a look at our brochure to find out more information about SmarTax by Deloitte
Download brochure
Meet the project team
Connect with the project team
Contact us
Other innovative technology-enabled tax solutions provided by Deloitte Romania:
PartnerSCAN
PartnerSCAN allows companies to assess the potential tax risk of their business partners
D.Tax
D.Tax innovative application dedicated to VAT reporting
Total Rewards
Total Rewards automated tool allowing companies to model their HR policies
Wage cost calculator
Wage cost calculator estimates wage costs for employers which are affected by the restrictions imposed in the context of the COVID-19 pandemic