Description: 'Tax rules management for processing tax returns' is a digital business capability that involves the use of technology to manage and apply tax regulations and guidelines in the processing of tax returns. This capability includes the ability to interpret and implement changes in tax laws, accurately calculate tax liabilities or refunds, and ensure compliance with all relevant tax authorities. It may also involve the use of automation and artificial intelligence to streamline and improve the accuracy of tax return processing. This capability is crucial for businesses to manage their tax obligations efficiently and effectively, reducing risks of penalties and ensuring timely and accurate tax return submissions. Additional information: The 'Tax rules management for processing tax returns' Digital Business Capability refers to the ability of a business to effectively manage, interpret, and apply tax regulations and rules in the process of preparing and processing tax returns using digital tools and technologies. This capability involves the use of advanced software systems and digital platforms that are designed to automate and streamline the process of tax return preparation and submission. This capability encompasses several key components: 1. Tax Rules Interpretation: This involves understanding and interpreting the complex tax laws and regulations that apply to the business and its operations. This requires a deep understanding of tax laws, as well as the ability to keep up-to-date with changes and updates to these laws. 2. Tax Return Preparation: This involves the actual preparation of tax returns, including the calculation of taxable income, deductions, credits, and tax liabilities. This requires accurate data collection and processing, as well as the ability to apply tax laws correctly. 3. Tax Return Processing: This involves the submission of prepared tax returns to the relevant tax authorities, as well as the tracking and management of any responses or feedback from these authorities. This requires efficient document management and communication capabilities. 4. Compliance Management: This involves ensuring that all tax return preparation and processing activities are compliant with relevant tax laws and regulations. This requires robust compliance management systems and processes. 5. Technology Management: This involves the management and maintenance of the digital tools and technologies used in tax return preparation and processing. This requires strong IT management capabilities, as well as the ability to adapt to new technologies and innovations in the field of tax management. 6. Data Management: This involves the management of all data related to tax return preparation and processing. This requires strong data management capabilities, including data collection, processing, storage, and security. In summary, the 'Tax rules management for processing tax returns' Digital Business Capability is a critical capability for businesses that need to prepare and process tax returns in a compliant, efficient, and accurate manner. It requires a combination of tax knowledge, digital technology, and data management capabilities. Example: 1. Internal Revenue Service (IRS), USA: The IRS uses digital business capabilities to manage tax rules for processing tax returns. They have an online system that allows taxpayers to file their tax returns electronically. The system is programmed with the current tax rules and regulations, which it uses to calculate the tax liabilities or refunds of taxpayers. 2. HM Revenue and Customs (HMRC), UK: HMRC has a digital platform that manages tax rules for processing tax returns. The platform, known as the Personal Tax Account, allows taxpayers to check their tax code, submit a Self Assessment tax return, and manage their tax credits among other services. 3. Australian Taxation Office (ATO): The ATO has a digital business capability that manages tax rules for processing tax returns. Their online services for individuals and agents allow taxpayers to lodge their tax returns, track the progress of their returns, and manage their tax affairs. 4. Canada Revenue Agency (CRA): The CRA has a digital platform called My Account which manages tax rules for processing tax returns. The platform allows taxpayers to view their tax information, change their return, check their benefit and credit payments and their RRSP limit, set up direct deposit, and so much more. 5. Inland Revenue Authority of Singapore (IRAS): IRAS has a digital business capability that manages tax rules for processing tax returns. Their myTax Portal allows taxpayers to file their tax returns, view their tax bills, and manage their tax affairs. 6. South African Revenue Service (SARS): SARS has a digital platform called eFiling which manages tax rules for processing tax returns. The platform allows taxpayers to submit returns, make payments, and register for alerts. Publisher: EIRA Team LOST view: OV-Digital Business Capabilities Catalogue Identifier: http://data.europa.eu/dr8/egovera/TaxRulesManagementForProcessingTaxReturnsCapability EIRA traceability: eira:DigitalBusinessCapability EIRA concept: eira:SolutionBuildingBlock Last modification: 2023-07-27 dct:identifier: http://data.europa.eu/dr8/egovera/TaxRulesManagementForProcessingTaxReturnsCapability dct:title: Tax rules management for processing tax returns (DBC)