generate.TAX

generate.TAX stemmed from a realisation that there was a gap in existing accounting software, such as Xero, which lacked functionality to support specific local requirements with regards generating tax and VAT reports. Accountants and finance professionals needed to adhere to strict local regulations, but current software didn't provide the necessary localised tools or data for them to fulfil their responsibilities with ease. This resulted in additional manual work to ensure compliance, increasing the risk of errors and wasting valuable time. Recognising this unmet need, we began by developing a solution tailored to the Malta market. We saw a clear requirement for a tool that could handle VAT submissions efficiently through a software that integrates seamlessly with existing accounting systems to automate the generation of VAT returns. The result is a system that is designed to benefit both accountants and businesses. For accountants, it simplifies VAT return preparation by extracting data from the accounting software and generating VAT reports with just one click. Additionally for businesses, it helps manage VAT deadlines and settle liabilities efficiently, minimising misstatements and enhancing financial control and compliance. Designed to be a comprehensive solution for all VAT activities, generate.TAX’s features include Compliance Reminders, an Invoice VIES Checker, Return Preparation, Record-Keeping, Audit Trails, and a Return Generator. After launching in Malta and receiving positive feedback and adoption from industry professionals, we explored the broader EMEA region and discovered that similar challenges existed elsewhere. As a result, we expanded our software’s functionality to address the needs of additional countries such as Cyprus, Ireland, UAE, Isle of Man, Sweden, and the Netherlands. We also incorporated other VAT-related services, such as recap statements and a VAT number checker, to ensure comprehensive support .