Tax Compliance & Reporting

The Tax Compliance & Reporting solution provides a central and flexible platform for comprehensive tax management, helping companies efficiently fulfill their tax obligations while ensuring compliance. The solution optimizes every aspect of tax processes and provides an intelligent platform that manages the entire tax lifecycle. Tax Compliance & Reporting simplifies complex reporting requirements, minimizes risks, and provides the tax team with unparalleled control.

User interface of the ‘Income Taxes' module

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Tax Compliance & Reporting offers the following modules, which can be individually licensed:

The Lucanet module Tax Administration provides global master data administration for your Tax Compliance & Reporting modules, including:

Managing

users

assigning roles

to users

Uploading and managing

certificates

, e.g. ELSTER certificates

Designing

email templates

that are sent to users of

Tax Compliance & Reporting

in response to specific events

The Lucanet module Income Taxes provides a central and flexible platform for comprehensive tax management, helping companies efficiently fulfill their tax obligations while ensuring compliance. The solution optimizes every aspect of tax processes and provides an intelligent platform that manages the entire tax lifecycle.

Income Taxes contains various sub-modules, which can be licensed individually and are reflected in the user interface as follows:

Tax Accounting serves as a central platform for the calculation of current and deferred taxes in the context of tax reporting under IAS 12. The system automatically generates the corresponding disclosures for the notes and thus optimizes the entire tax accounting process.

Tax Accounting offers the following benefits, among others:

Automated tax calculation: Calculations of deferred and actual taxes in compliance with regulations and in accordance with IAS 12, IAS 34, and Section 274 of the German Commercial Code (HGB)

Group-wide data consolidation: Aggregation and harmonization of tax data from all companies

Workflow management: Real-time monitoring of progress and deadlines with integration into financial processes

Multi-system integration: Direct connection to ERP systems, financial systems, and third-party tools

Period-specific data separation: Clear distinction between reporting periods

Flexible parameterization: Customizable company-specific settings

Standardized compliance processes: Consistent procedures to minimize audit risks

Complex tax structure management: Management of multi-layered tax group structures

Available workspaces for 'Tax Accounting'

Tax Return offers a comprehensive solution for the preparation, management, and electronic filing of German tax returns in accordance with local tax regulations. The sub-module optimizes the entire tax return process from data collection to final submission to the German tax authorities, ensuring full compliance with all regulatory requirements.

End-to-end tax reporting solution: Complete management from data collection to electronic transmission

Electronic transmission: Direct transfer of trade and corporate income tax, as well as breakdowns, assessment notices, and related attachments to German authorities

Compliance: Compliance with German regulatory requirements using validation functions

Central master data administration: Uniform data administration at company level for consistent data processing

Standardized transfer workflow: Guided processes for data entry, validation, approval, and final transfer

Snapshot functionality: Complete audit trail through automatic backup and restore functions

Seamless integration: Shared database with the Tax Accounting sub-module

Data security and auditability: Protection of sensitive tax data with complete transmission history

The Pillar 2 sub-module supports the calculation, analysis, and reporting of global minimum tax obligations in accordance with the OECD’s Pillar 2 requirements. The module includes integrated data evaluations for Safe Harbour checks, CE calculations, de minimis assessments, jurisdictional blending, and allocation of top-up tax amounts. Rule-based calculations and scenario analyses enable a comprehensive understanding of effective tax rates, proactive risk mitigation, more efficient compliance, and strategic planning support for multinational corporations.

The Country-by-Country Reporting (CbCR) enables the automated collection, validation, and reporting of country-specific data in accordance with OECD guidelines and local regulations. The CbCR module includes features for data integration and audit workflows and provides ready-to-use reports. This allows for a comprehensive overview of global tax obligations, improved compliance, reduced manual effort, and increased audit readiness.

Our Lucanet Tax Balance module offers the ability to create and maintain a tax balance sheet and to electronically submit it to the German tax authorities as an XBRL-based E-Balance Sheet (E-Bilanz) in accordance with § 5b EStG.

Tax Balance supports all taxonomies published by the German Federal Ministry of Finance for the transmission of the E-Balance Sheet and provides an intuitive user interface.

Key features include:

Precise modeling of complex corporate structures, including parent companies, intermediate controlling entities, and dependent units

Adjustment levels

for versioning and documentation

Flexible import options

via various file formats, SAP systems, Lucanet databases, and more.

An intuitive and powerful mapping dialog

for effortless assignment of accounts to the taxonomy

Seamless integration with the Tax Compliance & Reporting solution

for direct transfer to the Income Taxes module and efficient preparation of the tax return

Master data administration

for the Global Common Document (GCD) area of the taxonomy

Complex functions for partnerships

, including management of capital accounts, special partner balance sheets and supplementary partner tax accounts, and the mirror image method.

Multi-year comparisons

for transparent analysis across different reporting periods

Creation and validation of E-Balance Sheets

for submission to the German tax authorities

Reporting functions,

such as instance reports of the E-Balance Sheets and balance sheet overviews with tax adjustments

Do you already use the Lucanet CFO Solution Platform and would like to use Tax Compliance & Reporting as well? Reach out to your Lucanet contact person for the licensing of Tax Compliance & Reporting or get in touch with us at

Contact

You are not yet a Lucanet customer and would like to know more about our solutions? Then write to us at

Contact

Last updated on Aug 16, 2023

Tax Compliance & Reporting

Country-by-Country Reporting

Tax Balance

Modules

Tax Administration

Income Taxes

Tax Accounting

Tax Return

Pillar 2

Country-by-Country Reporting

Tax Balance

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Company

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