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Tax and Revenue Management, Technology

How forecasting technology can fight tax fraud

Taxation fraud is a key challenge faced by Asia Pacific public sector. Governments can reduce this monetary leak using forecasting technologies, CEO of SAS Jim Goodnight told FutureGov.

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The difficult economic situation makes it more pressing for governments to deal with growing tax evasion cases. Business analytics can help sift through escalating data volumes to detect hidden fraud patterns and make sure government collect the taxes it is due, said Goodnight.

“In the United States, we uncovered a US$30 million taxation fraud case for a government agency which could potentially been overlooked,” commented John Brocklebank, Vice President, SAS Solutions OnDemand and Head of SAS Advanced Analytics Laboratory.

Business analytics software can also help tax departments identify huge networks of companies – for example a parent company with 900 to 1000 subsidiaries – to quickly and accurately assess tax liability.

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March 2012

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