Digital Transformation of Tax and Accounting Processes

Abstract

The world today is changing rapidly in many ways. Fundamental changes that differ country by country are visible also in the area of taxes and accounting. New activities whose adoption is enabled due to the great development of technologies in fact exert pressure on individual economic subjects′ actions in many areas. This is visible also in supporting activities like tax and accounting processing. Setting of business processes has to be therefore changed quite often as a reaction to the frequent changes in legislation regulating these areas. Legislation in these two areas, taken from the Czech accounting units′ point of view, changes so often. Even if these changes of the legislative framework can be described as more frequent in the area of taxation (great change at least twice a year, often in the area of income taxes), this year the great change happened also in the area of accounting. In association with the adoption of the New accounting act started to be influenced set accounting processes of accounting units concerned. New accounting act should come into force since January 1, 2025. The aim of this contribution is to identify and, through the analysis of the development of digitalization tools, assess the possibilities of selected accounting units in the area of digital transformation of tax and accounting processes. This contribution uses, with the intention to describe and assess the situation in above specified areas, information focused on related significant legislative changes and relevant research methods to which belong literature research of professional publications, analysis of information and methodical support in specified area (provided mainly by the state authorities). The intention of the authors is to assess the degree of use of digitalization by selected, in the contribution further specified, accounting units. Therefore, in the final part of the contribution, obtained results are summarized using the method of synthesis.