Our client is a top tech provider specializing in tax compliance solutions for businesses in highly regulated industries. With a team of experts familiar with regional tax laws, they simplify and automate the tax filing process, allowing businesses to focus on growth while staying compliant. Their goal is to remove the hassle of tax submissions and help companies avoid penalties from delays or errors.
Companies faced significant challenges in timely filing excise tax returns due to delays in consolidating import and export inventories across multiple zones. The complex excise compliance process, along with discrepancies in previously submitted data and opening stock declarations, brought penalties to the companies. Furthermore, delays or failure to declare opening stock caused the FTA to set stock levels to zero, preventing companies from moving excisable goods out of their designated zones.
Softude’s Role
We implemented a comprehensive digital transformation strategy, focusing on Low-Code development and Robotic Process Automation (RPA) to accelerate delivery. Our solution included three key deliverables: a Tax Bot for automating FTA e-Services form population, Smart Deductibles for advising on cost-saving product deductions, and an Excise Returns Generator for streamlining tax filing. The Tax Bot reduced manual effort by automatically processing imports and production data, while the Smart Deductibles optimized tax deductions and ensured compliance with FTA regulations.
30–70%
Time and Cost Savings
100%
Accurate Tax Filing
60%
Less Manual Intervention
Benefits in a Nutshell
01.
Faster Tax Filing
Automated data collection and reconciliation reduced filing time, allowing timely and accurate submissions before deadlines.
02.
Eliminated Penalties
Accurate declarations and compliance with tax authority regulations minimized fines and penalties.
03.
Cost Savings
Smart Deductibles advised on the most cost-effective product deductions, helping businesses save on tax liabilities.
04.
Compliance Assurance
The solution ensured full compliance with FTA regulations by automating processes and optimizing deductions.
Client Testimonial
Working with Softude has been an amazing experience. Their expertise in digital transformation and automation really helped improve our excise tax processes. The solution they provided simplified a complex task, saving us both time and manual effort. We are extremely satisfied with the results and how smoothly everything integrated into our workflow.
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