Smart Tax Solutions to Enhance Digital Management for Property Developers

RETAIL, MANUFACTURING AND PROPERTY

Background

The client is a large Chinese multi-sector property developer specializing real estate and commercial development. The company has a significant presence in the real estate industry and has implemented a nationwide strategic layout, evolving into a flagship enterprise with diverse business operations across the country.

Challenges

With over 17 business sectors and over 1,000 tax entities across China, the client was faced with the challenge of managing increasingly complex tax requirements. Their current tax filing and management process relies heavily on manual operations, with decentralized and tax filings being made by hand on a regular basis. This places an extensive burden on productivity and resources while also making it difficult to ensure standardization and compliance. As such, the client identified the need to enhance their digital tax administration.

Solutions

LPS developed an industry-leading integrated smart tax solution for the client based on comprehensive business analysis and digital construction best practices. This solution enables automated tax calculation and filing systems, helping the company effectively mitigate risks in tax management and enhance tax control and transparency.

The digital tax solution also features centralized, automated, and batch invoicing to control the risk of duplicate invoices and improve customer satisfaction with invoice receipts. By integrating input and output invoice data, accounting systems, and various ledgers, the solution ensures seamless connectivity between the company's invoice pool and other data, eliminating data silos.

LPS's smart tax solution enables one-click nationwide tax filing for all tax types, including obtaining company registration information, filing submissions, filing cancellations, historical data queries, filing lists, filing deductions, and obtaining tax payment certificates. This significantly enhances the company's digital transformation capabilities, ensuring a competitive edge in the industry.

Value created

The system serves as a comprehensive service platform linking the enterprise with relevant tax authorities, helping the client to achieve standardized, centralized, automated, and visible tax management. This not only effectively mitigates risks but also improves the level of digital tax management, with an estimated saving of over 70% in human resource costs. LPS’ solution also delivers a series of rich and effective tax management tools, making the client's tax management system more efficient and organized, providing strong support for the company's continued digital transformation and sustainable development in China.

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