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An automation tool for the CIT compliance process

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Bringing the CIT 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.

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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

Software as a service (SaaS)
File management and use of information
IT security and data confidentiality
  • 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

Dan Bădin

Partner, Tax

dbadin@deloittece.com

Vlad Vatavu

Manager, Tax

vvatavu@deloittece.com

Robert Ionescu

Senior Consultant, Tax

rionescu@deloittece.com

Alex Vasile

Technology Manager, Tax

alvasile@deloittece.com

Connect with the project team

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