The New Standard for Tax Accounting

Monthly, periodic and year-end tax provision accounting. Integrated with your tax return process. Taxlab Income Tax is a professional software application that speeds up the preparation of tax provision journals, proofs and IFRS notes. Easy to set-up use and maintain.

Collaborate Online

Enable cloud based collaboration, provide instant visibility, shared learnings, and flexible ways of working. Invite unlimited users from within the organisation. Invite external users such as your external auditor or tax advisor. Work more efficiently with your tax advisor to get the most from their specialist expertise.

Use a Single Processes

Reduce replication, use a single process for tax provision and tax returns. Automate monthly, 6 monthly and annual tax reporting. Share a single process with your tax advisor. Provide tax calculations in the same format they use.

Quick and Easy Setup

Set up computations in-house quickly and easily (or use a certified Taxlab implementation partner). No custom work-papers to build or maintain. Constantly optimised by our team via the cloud, based on user feedback – so it’s always up to date. No installation, updates or downloads to deal with, no work for your IT team.

Journal Entries

Automated journals and tax account movement reconciliation allows you to quickly see how your tax charge and tax payments impact your closing position.

Current Tax

Reconcile your current tax position directly against Inland Revenue and Tax Pooling transactions for accuracy in an area that has a cash impact.

Deferred Tax

Deferred tax proof including measurement, recognition and IFRS note disclosures Deferred tax proofs on capital assets and a tax basis balance sheet.

Reconciliations

Automatic sense checks help you reconcile your tax provision between what the position should be based on your calculations and what has actually been booked.

IFRS Disclosures

Full balance sheet, income statement and note disclosures including the tax expense reconciliation and deferred tax movement and component notes.

Version Control

Use version control and update your tax calculation each month for accurate periodic reporting. See journals for each tax adjustment for granular reconciliation.