Tax Analytics: A Strategic Approach to Compliance and Risk Mitigation
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Mr.S.S.Ranjithsaran
Mr.N.Devaram
Mrs.R.Menaka
Abstract
Now a days, the use of cutting-edge technology, tax data analytics analyzes financial data to help professionals make wise decisions, spot chances for tax savings, and guarantee compliance with constantly evolving tax rules. Tax analytics involves the use of data analysis techniques and tools to manage, optimize, and understand tax-related matters more effectively. This emerging field combines traditional tax knowledge with advanced analytical methods to provide insights that can help individuals and organizations make better tax-related decisions. With the emergence of digital technology, the financial landscape has undergone tremendous transformation, and tax analytics has become an indispensable tool for both tax authorities and enterprises. The present study investigates the diverse constituents, procedures, functions, software instruments, advantages, and disadvantages linked to tax analytics. Tax professionals can uncover possible hazards, improve tax tactics, and obtain deeper insights into tax compliance by utilizing data analytics. The goal of this study is to offer a thorough review of tax analytics while emphasizing the difficulties and significance of this field in contemporary tax management.
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