FRS 101 & IFRS Tax Reporting
Tax Computer Systems is proud to offer the most user-friendly IFRS tax provisioning solution designed to handle tax accounting under IFRS including the new FRS 101. Our IFRS & FRS101 Tax Reporting Solution is available as an in-house software installation or as a hosted service. Either way, using this software solution to produce your tax provisions will bring many benefits to your organisation including:
- A structured Statement of Financial Position liability approach as specified by IAS 12 to calculate deferred tax
- Assistance with calculating the tax bases of assets and liabilities
- Support with calculating the carrying value of assets and liabilities
- Deferred tax calculations for share based payment transactions
- Overall Proof of Tax charge
- Improved efficiency through standardisation
- Increased accuracy and auditability.
The need for a structured way to manage your IFRS reporting, as well as the new FRS 101 reporting requirements, exists more now than ever. A proprietary software system like Alphatax will automate and streamline your processes as well as bring your organisation a variety of other business benefits.