Project-Tax Management app - Infinity Infosoft

// INFINITY INFOSOFT

Tax software development

a 50% cut in tax prep time, boosting customer retention by 25%

Client

Our client, an EU bank, wanted to grow its services and reach a new customer segment by launching a user-friendly tax management app. The app should be fully integrated into their existing systems and securely handle sensitive data

Detailed information about the client cannot be disclosed under the provisions of the NDA.

Automated tax calculation

Our app automates the entire tax calculation process. For instance, if a freelance graphic designer earns income from multiple sources, the system pulls that income data directly from their banking transactions and applies the correct tax rate automatically. It uses custom formulas for different tax categories — income tax, VAT, or self-employment tax — based on local tax laws. Users can even create specific rules for tax deductions, like expenses for business-related supplies or travel. Every time a transaction happens, the system recalculates the tax obligations in real time. It also sends out reminders, such as: “You have a tax deadline coming up in 7 days — click here to review and file!”

Payment system integration

The app also makes tax payments simple and automatic. Once taxes are calculated, users can schedule payments directly from their bank accounts. For example, a self-employed IT consultant who needs to pay quarterly income tax can set up recurring payments that withdraw from their account on specific dates. The system automatically tracks payments and reconciles them with outstanding tax liabilities. If a user has already paid a portion of their taxes, the system adjusts the balance due and keeps their tax obligations up to date. No more manually keeping track of deadlines — taxes are paid on time, every time, without extra effort.

Multi-currency support

The app offers a multi-currency support feature that makes tax filing across the EU much easier. It automatically detects different currencies, so users can enter income, expenses, and tax details in whichever currency they need. With real-time exchange rates from trusted sources, the app ensures accurate conversions and calculations: this way, the bank customers can work with clients from different regions and easily perform cross-border transactions.

Document management

As part of the tax software development service, we integrated the feature that allows users to organize all their tax-related documents in one place. Let’s say a self-employed consultant wants to look back at their expense reports for the year. With our app, they can simply pull up a history of their transactions and tax payments through the app’s general ledger. The system automatically categorizes expenses and matches them to the correct tax categories, like travel, office supplies, or professional services. When tax season arrives, all the necessary documents are already organized and linked to the user’s transactions, which saves them hours of manual work. The user can access this data anytime, whether for filing taxes, undergoing an audit, or tracking business expenses.

Reporting

Our system generates tax reports based on the user’s financial data and applicable tax laws. For example, if a user operates in multiple regions with different tax rules, the system customizes the report templates to meet the specific requirements of each region: it will generate a VAT report for the EU and a separate income tax report for the local government. The reports are automatically formatted and ready for submission. Users can either download these reports for their own records or submit them directly to tax authorities using integrated e-filing services.

Esignature

We added the eSignature feature to make signing documents secure and legally compliant. It uses PKI encryption to verify the signer’s identity and keep documents safe. The app also supports SSL/TLS encryption for secure data transmission. Users can sign tax forms like PDFs or DOCX files right in the app, using a touchscreen or stylus. Plus, with timestamps and audit trails, everything stays fully traceable and meets all eIDAS and ESIGN regulations.

Data protection

We integrated multi-factor authentication (MFA) and biometric security options, so the users can easily and securely log in with a quick fingerprint or facial scan, without the hassle of dealing with passwords. Additionally, the system monitors for fraudulent activity using AI-powered algorithms. For instance, if someone tries to access the system from an unrecognized device or location, the AI could trigger an alert and block access until the user verifies their identity.

Compliance with standards

Our tax software is designed to stay compliant with ever-changing tax laws. For example, if the government introduces a new tax deduction for the self-employed, the system automatically updates to include it in the tax calculations. The system is connected to real-time tax regulation feeds to make sure that tax rules are always current. This is particularly useful for users who operate in industries with frequent changes in tax policies, like freelancers in digital media or consultants in finance. The system guarantees they always file their taxes according to the latest standards and avoid penalties.

Technologies

Back-end

Java 8/11, Kotlin, Spring boot, Koa, RxJava, Dagger

Front-end

JavaScript, React, Redux, arui-feather, redux-thunk

Platforms

Marathon, Mesos

Integrations

Wiremock, Testcontainers

DevOps

Ansible, Chronos

QA