Electronic Tax (e-Tax) is a way of converting and generating tax invoices into electronic files; including debit notes, credit notes and payment receipts. A digital signature is embedded into the converted e-Tax files prior to being sent to the consumer and submitted to The Revenue Department in the required time frame.
This process significantly reduces paper use and increases efficiency in the process of generating, sending and submitting tax invoices. Brainergy aims to promote and fully supports e-Tax by offering our own service called SMART Tax.
Businesses that have VAT registration and have duty to issue a receipt
1) Reduces duplicate paper documents and steps in the process of generating tax invoices.
2) Saves time and reduces costs in document management.
3) Data can be used to evaluate by the user’s information system instantly.
4) Saves real estate used to store and manage physical documents.
5) Search and locate electronic files instantaneously and efficiently.
SMART TAX reduces processing time significantly compared to the traditional way of processing paper documents. SMART TAX alleviates issues encountered with paper documents such as, incomplete files, incorrect information, and missing documents; these issues may delay the tax claim or cause the claims unable to be processed.
Processing tax claims via e-Tax allows users to gather required documents from an online SMART TAX database and prepare documents required instantly. Making SMART TAX a more efficient method, saving time and minimising errors.
Electronic Signature is a way of imprinting a symbol or a signature onto a document for verification. The symbol or signature may come in forms such as a photograph of a signature, a scanned copy of a signature, a signature traced out by a computer mouse or stylus, email signatures, clicking on “I Agree” in an electronic form, etc.
Digital Signature is a subset of Electronic Signature. It also comes in electronic form, but is generated with added security properties as follows: