Digital CIT – Automated corporate tax return

Does it take a long time to prepare a corporate tax return? Not enough expert capacity to upload the declaration? Does the group have several subsidiaries? Do you see any risks in completing the declaration? If the answer to any of the above questions is yes, then we recommend our Digital CIT application as a solution.

Preparing corporate tax returns is a significant task for companies every year. The tax department has to record a large amount of data from the accounting department on the tax return form. In addition, determining items that reduce or increase the tax base, completing the relevant declarations, and entering information on subsidies also requires a significant amount of time and attention. Since 2023, this has been accompanied by the preparation of transfer pricing data reports.

If the data previously provided by the accounting department changes, this will affect the other data in the return and may even affect the amount of tax payable, so the new data must also be recorded.

As in most areas, manual data entry carries the risk of errors when completing corporate tax returns. However, the risks arising from manual processing can be minimised by automating the preparation of tax returns.

In collaboration with our company’s tax and IT experts, we have developed a Windows-based application that can be run on multiple computers and fills in the relevant sections of the tax return from the available data. The application performs multi-faceted checks, flags any errors, and performs automatic corrections as required.

The application is tailored to the customer’s requirements. By default, the following data can be loaded from a separate input file:

Data to be loaded permanently: It is possible to provide the application with data that is identical for each submission, e.g. in the case of a group of companies, the details of the administrator completing the form, the reporting period, the form of business and sector, a statement on the size of the enterprise for the purpose of determining the innovation contribution obligation, etc. These are filled in automatically by the programme, saving time for the user and reducing the risk of incorrect entries.
Tax base reduction and increase items, minimum income/profit: The customer can perform the additional calculations necessary to determine this data in their own spreadsheet program and then transfer the resulting data to the data table to be used as the input file. The relevant data can thus be uploaded on a more user-friendly interface than ÁNYK, and the programme automatically records it in the tax return form.
Balance sheet and income statement: The accounting department can fill in the relevant tables directly. This eliminates the need for manual (re)entry of data received from accounting and minimises the risk of incorrect data entry.
Declarations: The background tables can be retained and, after any necessary changes have been made, can be reused in subsequent years. Thanks to this, the time required to complete RNYIL forms is reduced to a fraction of what it used to be.
Transfer pricing data reporting: can be ordered separately with our application can be added to the form independently. Thus, if the company has a separate transfer pricing expert, the ATP sheets for the tax return can be automatically generated using the data received from them, and then attached to the already prepared tax return.

The programme uses the loaded data tables to create an XML file, allowing the tax return to be sent directly to the National Tax and Customs Administration. It is also possible that if there is a change in any data after automated completion (for example, balance sheet data needs to be corrected or transfer pricing information changes), the corrected version of the return can be automatically generated by loading the modified data table alongside the xml file that has already been created. This greatly facilitates both pre-submission corrections and any self-assessment that may be required.

What are the benefits of using our application?

We develop our application individually for each customer, so they do not receive a boxed application, but exactly what they need.
Our application does not require any development or connection to management software.
The preparation of tax returns is significantly accelerated, thereby reducing the time spent by the company’s experts.
The customer can adjust the number of data tables to be used to suit their own processes. This means that information from different fields can be entered directly by specialists in the relevant field, eliminating the need for time-consuming and error-prone re-entry.
The background sheets of the RNYIL forms can be reused year after year, and time-consuming data entry can be replaced with the push of a button.
The programme can also be used for self-assessment.
Using the application minimises the tax risk arising from incorrect completion.
We develop applications with fast turnaround times and short delivery deadlines.

If our information has caught your attention, request an online presentation, where our experts will briefly explain the possibilities and advantages of the programme.