Tax Tuesday – How to Deliver Tax Reports
Why is this important?
Governments are increasingly standardizing digital business reporting tax processes using XBRL as technology specifications. This creates an efficient and transparent system and enables higher quality in the tax reporting process. Within this tax reporting chain entrepreneurs, financial experts and accountants will have to work with Digital Business Reports formatted in a more complex and user unfriendly format. This is due to XBRL being a machine readable language that uses XML as a formatting language. XBRL is a technical technology which requires its own audit and control processes.
How do you deliver these Tax Reports?
Using SemansysNext, specifically the Delivery Module which is able to provide users the functionality to send digital business report messages (inline-XBRL, XBRL, etc.) to any delivery location, for example the Chamber of Commerce, Tax Authorization (Digipoort) or to the commercials Banks (SBR Nexus). This uses a system certificate or a supporting company to manage and use their own PKI-O certificate in the delivery process. It supports requesting the status of a previously made delivery and provides an overview of the delivery steps including details where applicable.
No matter what type of Tax Report you have SemansysNext can deliver the XBRL file to any required/desired endpoint.
Stay tuned next week for our article ‘How Semansys Handles Data Volumes’.
For more information please contact us at info@semansys.com. We would be happy to schedule a demo or provide more detail about any of our capabilities.