ADDRESSING TAX COMPLIANCE ISSUES FOR LOAN-BASED PAYMENT TYPES: DEVELOPMENT OF THE TAX BUFFER MECHANISM AND ITS USE IN THE FINTECH INDUSTRY

In the modern world of the fintech industry, tax changes are one of the key problems, especially with fixed loans. This study examines the Tax Buffer mechanism, designed to effectively manage tax obligations that vary depending on the jurisdiction and stages of delivery of goods. The main task of the mechanism is to automatically recalculate taxes to minimize the risk of errors and reduce the burden on the accounting and legal departments of the company. The implementation of this solution allows you to reduce the number of manual operations, reduce transaction costs and improve the customer experience by eliminating the need to notify users of every change in the amount of taxes. The results of the implementation of the mechanism have shown its high efficiency: a significant reduction in the number of errors and financial disputes, as well as an increase in operational efficiency. The Tax Buffer mechanism is an important innovation that helps to increase the resilience of fintech companies to changes in tax legislation.

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Publication Details

Journal
The American Journal of Engineering And Technology
Published
2024-10-01
DOI
https://doi.org/10.37547/tajet/volume06issue10-02
Primary Topic
Taxation and Compliance Studies
Type
article
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article

ADDRESSING TAX COMPLIANCE ISSUES FOR LOAN-BASED PAYMENT TYPES: DEVELOPMENT OF THE TAX BUFFER MECHANISM AND ITS USE IN THE FINTECH INDUSTRY

Panguluri Naga Rishyendar
The American Journal of Engineering And Technology
Taxation and Compliance Studies
article

ADDRESSING TAX COMPLIANCE ISSUES FOR LOAN-BASED PAYMENT TYPES: DEVELOPMENT OF THE TAX BUFFER MECHANISM AND ITS USE IN THE FINTECH INDUSTRY

Panguluri Naga Rishyendar
article en

Abstract

In the modern world of the fintech industry, tax changes are one of the key problems, especially with fixed loans. This study examines the Tax Buffer mechanism, designed to effectively manage tax obligations that vary depending on the jurisdiction and stages of delivery of goods. The main task of the mechanism is to automatically recalculate taxes to minimize the risk of errors and reduce the burden on the accounting and legal departments of the company. The implementation of this solution allows you to reduce the number of manual operations, reduce transaction costs and improve the customer experience by eliminating the need to notify users of every change in the amount of taxes. The results of the implementation of the mechanism have shown its high efficiency: a significant reduction in the number of errors and financial disputes, as well as an increase in operational efficiency. The Tax Buffer mechanism is an important innovation that helps to increase the resilience of fintech companies to changes in tax legislation.

The American Journal of Engineering And TechnologyVol. 6(10)
Industry, innovation and infrastructure
Openalex Percentile: Top 79%
Taxation and Compliance Studies
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ADDRESSING TAX COMPLIANCE ISSUES FOR LOAN-BASED PAYMENT TYPES: DEVELOPMENT OF THE TAX BUFFER MECHANISM AND ITS USE IN THE FINTECH INDUSTRY — Panguluri Naga Rishyendar · The American Journal of Engineering And Technology (2024) | TGRS Research Map | TGRS