Transform indirect tax recovery
For decades, tax professionals have managed the analysis of complex data for indirect tax recovery through time-consuming statistical analysis and sample sets. Due to the sheer amount of data and complex jurisdictional rules, it was nearly impossible for many institutions to analyze all indirect tax transactions. As a result, significant indirect tax refunds may not have been claimed.
Deloitte has deployed a technology-enabled solution, CognitiveTax Insight™ (CogTax), that provides an increased, improved, and more efficient analysis of clients' indirect tax data set. CogTax has the ability to analyze the full population, if desired, of a client's accounts payable transactions compared with a traditional, sampled approach. The solution not only allows tax professionals to save time and resources, but can also help companies to proactively avoid overpaying their indirect tax liabilities.