What is meant by Tax return?
The term "tax declaration" refers to the formal statement that taxpayers must submit to tax authorities to declare their taxable income and expenses for a specific tax year. This declaration is used to determine the tax liability and ensure that all tax obligations are met. The tax declaration can be submitted both electronically and in paper form.
Typical software functions in the area of "tax declaration":
- Automated Data Entry: Assistance in entering financial data through import functions or by connecting with other financial systems.
- Tax Calculation: Automatic calculation of the tax liability based on the entered data and current tax laws.
- Error Checking: Identification and correction of errors or inconsistencies in the tax declaration.
- Form Creation: Generation of the required tax forms for submission to tax authorities.
- E-Filing: Electronic submission of the tax declaration directly to the responsible tax authorities.
- Reporting: Creation of reports and summaries of the tax situation for internal and external purposes.
Examples of "tax declaration":
- Income Tax Declaration: Declaration to determine the income tax for individuals or households.
- Value Added Tax Declaration: Declaration to determine the VAT for businesses.
- Corporate Tax Declaration: Declaration to determine the corporate tax for legal entities.
- Trade Tax Declaration: Declaration to determine the trade tax for businesses.
- Capital Gains Tax Declaration: Declaration to determine the tax on capital gains.