Digital Solutions for Tax Compliance | KPMG | CN
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Digital Solutions for Tax Compliance

Digital Solutions for Tax Compliance

Highly automated tax compliance solution

Highly automated tax compliance solution

KPMG China’s highly automated tax compliance solution

KPMG China has launched its new Technology Enabled Compliance Solution for Tax (“the KPMG solution”), which is a highly automated tax compliance solution for managing your organisation’s Chinese tax obligations.

Complying with China’s tax system has historically been rather complex and paper documentation-driven. It involves intensive manual work processes with significant headcount requirements, and can be challenging to oversee in a jurisdiction with material tax risks and consequences for non-compliance. The change is coming in two directions – firstly, the tax authorities are implementing significant changes to China’s Golden Tax System which facilitates greater automation, and secondly, businesses are deploying technology to obtain greater efficiencies and insights into their tax preparation processes. 

Imagine an environment where tax compliance is either highly or fully automated, where transparency over work processes can be obtained at the click of a button, where oversight over key tax risks can be easily generated in advance of filing returns, and where your tax or finance team’s headcount can be deployed to fulfil higher ‘value adding’ tasks rather than laborious manual tax processes. This era has arrived, and it is called KPMG Technology Enabled Compliance Solution for Tax (“KPMG Solution”)

KPMG China’s highly automated tax compliance solution delivers the following potential benefits: 

  • Automated VAT and Corporate Income Tax returns ready to file, together with local tax and surcharge calculations
  • Flexibility to be provided as either an outsourced service where returns are prepared by KPMG, or for your in-house use
  • Trend analysis which allows you to highlight potential risks, errors or anomalies, before you file the return 
  • Client interface which can switch between simplified Chinese and English at the click of a button 
  • Visibility over the current status of each return and relevant due dates, with control and approval functionality 
  • Data storage flexibility utilising either the cloud (KPMG’s or public) or within your secure environment 
  • Uploading of invoices validated through the Golden Tax System 
  • Solution specifically developed for the Chinese market 
  • Specialist VAT compliance modules for complex taxpaying industries such as trusts, funds and organisations operating in the free trade zone 
  • Dedicated telephone contacts to provide user support for your compliance needs. 

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