Technology plays an increasingly significant role in helping businesses maintain tax compliance:
Accounting Software: Modern accounting software can automate many aspects of tax compliance, such as income tracking and expense categorization. Electronic Filing: E-filing systems streamline the process of filing tax returns and ensure timely submissions. Data Analytics: Advanced analytics can provide insights into tax liabilities and help identify potential compliance issues before they become problems. Cloud Storage: Secure cloud storage solutions enable businesses to maintain and access financial records easily.