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SOCOMIE, a SILIC group firm, simplifies group tax management with Webtaxes

03/11/2011

From VAT to corporate income tax reporting, SOCOMIE uses Webtaxes to generate, check and e-file tax returns for the group's 9 companies.

Dièse Finance, the leading provider of SaaS tax solutions, announced today that SOCOMIE, a listed SILIC group real estate company, is using the Webtaxes platform to manage VAT and corporate income tax reporting for the group's 9 companies.

A single tax management platform approved by the Banque de France and French tax authorities

SOCOMIE was looking for very precise tax management features for the group's 9 companies:

  • Simple tax management for real-estate firms listed on the stock exchange (SIIC)
  • A validation workflow enabling effective and transparent checking of returns
  • Bulk processing of returns and EDI filing to the French tax authorities
  • Automatic filing of financial statements with the Banque de France (FIBEN partner)
  • Electronic archiving of tax data with tracking of tax office correspondence (acknowledgement of receipt, etc.)
  • Analysis and management tools for real-time traceability of tax flows
  • A social networking tool, available on demand 24/7 on the Internet

Available 24/7 via the Internet in SaaS mode, the Webtaxes platform has enabled SOCOMIE to simplify electronic filing of its VAT returns—replacing EFI filing with EDI filing—and generate corporate income tax reports through a fluid and secure process.

"In our multi-subsidiary, multi-user environment, we needed a tax management solution that is easy to use and adapted to groups and companies listed on the stock exchange. As it supports social networking and is available on line, Webtaxes met both our functional (multi-tax, validation workflow, SIIC) and technical requirements" explains Abraham Oliel, SOCOMIE's Head of Accounting "We have just finished our second tax filing campaign with Webtaxes and we are delighted with its ease of use, availability, reliability and visibility."


A collaborative and secure tax management solution for real-estate companies

Besides Webtaxes' ease of use, SOCOMIE also greatly appreciated how it handles SIIC/REIT tax status as a standard feature.

Plus, thanks to Webtaxes' workflow engine, SOCOMIE has been able to build a tax management incorporating:

  • Entry and production of corporate income tax reports and VAT returns by subsidiaries'accounting teams
  • Validation of returns by SOCOMIE's Head of Accounting
  • Real-time access to returns for the Group's Chief Financial Officer
  • E-filing of all corporate income tax reports to the French tax authorities

"The SILIC group's tax organization clearly illustrates the importance of having SaaS solutions for a company's management processes" says Dièse Finance CEO Benoît Gibert. "SILIC's CFO needed a flexible, up-to-date tool accessible from any Web browser to optimize the group's internal validation processes and able to view indicators in real time."

 

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