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April 2022 | Tax Audit Management app, Search, Workflow updates
April 2022 | Tax Audit Management app, Search, Workflow updates

Release notes about new features, improvements & bug fixing on the Loctax platform

Kasparas Aleknavičius avatar
Written by Kasparas Aleknavičius
Updated over a week ago

Q2 has just begun and we have already some amazing updates for you 🤩

New features

Never be out of balance with our Tax Audit Management application

*Ding*. 🛎 You received a new e-mail, the subject reads "New Tax Audit in Germany". You feel a bit uncomfortable, slightly panicking 🥵 .

You start thinking about how dreadful and stressful the process will be, which includes the info gathering, the preparation of answers, and the iterative touch-points with the tax inspector, all while racing the clock.

You try to remember what tax audit process should be used, and are quickly searching for all the excels you need to start it up and to keep track of it. 👀

Well, those days are over! With the Tax Audit Management application of Loctax, you are in full control of all your global tax audits in one centralized place with streamlined collaboration, accurate time and task management, and an up-to-date dashboard summarizing your global risk exposure and other audit-related KPIs.

Learn more about our newest application here.

He who seeks shall find

We've added basic search capabilities for our applications:

  • Documents

  • Audits

  • DAC6

  • Workflows

  • Member management

By the way, Ctrl+f is so yesterday 😎

Track the status of an entity

No more endless searches for status at a certain point in time, but use the overview in your single source of truth. From now on, you can easily change the status of entities in the data tab of an entity. If entities are liquidated, divested, or merged they will disappear from the LOC. Obviously, the full data and document history is kept for these entities!

New updates to our Workflows feature 🎉

  • We have developed a ready-to-go adaptable workflow to manage your Corporate Income Tax process in Loctax. This workflow supports and automates the end-to-end process for corporate tax compliance, ranging from data gathering to filing and payment of the return, in a well-controlled and well-structured way thereby reinforcing your one single source of truth.
    ​
    Or even better - use this template workflow to get inspired and further customize your own
    ​

  • From now on it's possible to duplicate your existing workflows. This way you never have to start from scratch again and use your stellar workflows as the foundation for other workflows.

Entity management made more efficient

Ready to expand your LOC in a few clicks? New entities can now be created directly on your interactive LOC.

Thanks to this feature, you can now add and link new entities directly to the main shareholder, making them immediately visible on your LOC.

Exporting your Indirect Tax Data

From now on it is possible to extract your Indirect Tax data points per registration. You only need to click on the export button et voila ready for some reporting 😎

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