Discover the Opti.Tax software solutions

Open Excel, pop in the risks, add the controls. Specify a probability of occurrence from 1 to 5, then the potential loss. Then quickly throw in a formula for the risk score, add some traffic-light colours, and your ‘ICS light’ is ready. Or ‘TCMS light’. Or is it? This is how many managers in companies think. It sounds pragmatic, but it often isn’t. Because this doesn’t just create a list. It already defines structures, assessment criteria, responsibilities and working methods.

Last Wednesday, on our programme „hsp live at 11“, I spoke with Torsten Stockem, a tax adviser and partner at the firm Energiesozietät, about the opportunities offered by AI in TCMS. The discussion centred on the wide range of opportunities that the use of AI tools offers professionals when setting up and maintaining a tax compliance management system.

To many companies, a Tax Compliance Management System – or TCMS for short – initially sounds like extra paperwork, consultancy costs and new obligations. Where should one start? Who is responsible for setting it up? And how can this be managed at all alongside day-to-day business operations?

We’re all familiar with them: multinational corporations. They sell products in Germany, operate a company in France, employ staff in Spain, have a branch in Ireland, and run further companies here and there outside the EU. At the end of the year, we look at their annual report and find out: what was the turnover? How much profit was made?