Tax Compliance with AI: How artificial intelligence supports an effective TCMS
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?
Why many people want to know where a corporation makes its money and where it pays tax
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?
From a missing key to perfect process documentation?
Did you know that virtually every child can demonstrate just how important it is to keep an up-to-date record of what happens? This is exactly what happened to a colleague who couldn’t find his keys one morning. Hadn’t he put his bunch of keys on the shelf in the hall the night before, as usual?
How tax firms are helping their clients go digital – and reaping the benefits themselves
Anyone working in the field of tax consultancy today has been experiencing a noticeable shift over the past few years. This is not just down to the wave of digitalisation that swept through Germany during the pandemic. The requirements of many clients are also changing. At a time when many software providers and app developers are automating repetitive tax and accounting tasks, companies expect more from a tax consultancy.
What does a tax compliance management system have to do with a lost car key?
There are those moments when you think to yourself: ‘That can’t possibly happen.’ And then it does: you’re standing in front of the lift in the office block, the doors open, everything as usual. A quick step forwards, your car key loosely in your hand – and suddenly it slips from your fingers. A faint metallic clink. A brief pause. And then that glance downwards: the key is gone. Vanished. Into the gap between the lift and the floor, exactly three centimetres wide.
Is Tax CMS worthless? Why the journey is more important than the destination
Time and again in consultancy meetings, I find that prospective clients proudly show me the risk-control matrix they have already drawn up. And then comes the question of how they might „fit“ this into Opti.Tax. The problem is that these ‘make-a-wish’ TCMS are completely worthless, as they aren’t derived from the actual processes.
Another file? How the pension file puts files to rest
There are many things in life that make you think: „I definitely need more of that.“ Holidays, for example. Or coffee. Perhaps Wi-Fi on the train, too. And then there are things that instantly make you think the opposite. Right at the top of this list: files. And, as we all know, Germany has a special relationship with files. There are personnel files, tax files, medical records, building plans, The X-Files and probably, somewhere, a file about your files.
This Pillar 2 enquiry initially puzzled me, but then won me over
Just as the deadline was drawing to a close, a prospective customer for our Pillar 2 software came up to me. And wanted to have a relaxed chat with me about our Opti.Tax Pillar 2 module. Hang on a minute, I thought. Isn’t it a bit late to be enquiring on 30 June about software that’s needed to submit the minimum tax report by 30 June?
Why the pension plan is essential for business owners
At first glance, estate planning is a subject that many clients are keen to put off. It is often associated with emergencies – such as illness, accident or death – in other words, precisely the issues that hardly anyone wants to deal with in their day-to-day lives. Yet it is precisely this emotional distance that makes the estate planning file such a valuable tool for tax practice firms.
EU Regulations 2026: how the EU is keeping businesses on track
For many companies, nothing works without rules when it comes to sustainability. On the contrary: wherever possible, they resort to tricks, cheating and evasion. In an interview with hsp Managing Director Paul Liese, Dr Steve Waitschat, an expert and consultant on sustainability reporting, explains how the 2026 EU regulations will bring companies into line.
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