Integrating verified global tax content from IBFD (directly into Loctax Tax Control Centre) with company-specific data to deliver actionable analysis in over 220 jurisdictions
We’re excited to announce the availability of a groundbreaking Loctax AI Assistant to help multinational organisations streamline cross-border tax research and analysis. By integrating company-specific data with verified international tax content provided under the collaboration between the International Bureau of Fiscal Documentation (IBFD) and Loctax, the solution enables tax teams to generate more relevant, context-aware insights and support business decision-making more efficiently.
Loctax AI Assistant enables users to ask tax questions relating to multiple tax domains, generating outputs directly relevant to their business structure, rather than relying on generalised answers that do not reflect their needs.
Tax professionals can carry out a range of tasks, including drafting and reviewing tax memos, analysing contracts and documents, exploring structuring scenarios and validating existing advice, all within a single platform. This enables them to respond more quickly to business requirements, making better use of their existing expertise, without increasing headcount.
Users also benefit from measurable efficiency gains across tax teams, reducing the time required to examine rules across multiple jurisdictions. This includes significant time savings across tax examination and analysis, with up to five hours per user, per week freed for higher-value activities and up to 80% time savings on memo preparation.
“Tax teams have traditionally been constrained by the time required to carry out detailed research and validate their findings before they can support the business,” said Stevi Frooninckx, CEO and founder of Loctax, a Tax Systems company. “The Loctax AI Assistant changes this dynamic by enabling teams to move more quickly from analysis to action. Rather than just supporting research, it serves as a gateway for conducting cross-border tax analysis much more efficiently, acting as a tax technical sparring partner for each member of the team.”
Authoritative Global Tax Content Embedded in AI-Driven Workflows
Through the integration of IBFD’s authoritative global tax content into Loctax Tax Control Centre, users gain access to verified global tax content covering more than 220 jurisdictions, including legislation, tax treaties, case law and doctrine. The collaboration ensures that AI-generated responses are grounded in trusted, source-based tax information. By embedding authoritative content within Loctax, said content gets blended with company-specific data, resulting in tax professionals obtaining clear and structured answers to complex research questions.
“The combination of IBFD’s verified international tax content and an organisation’s unique data is what makes this tool so powerful,” said Russell Gammon, Chief Innovation Officer, Tax Systems. “Other tools can answer a tax question, but the Loctax AI assistant understands each business and its specific circumstances, which means the insights it delivers are directly relevant and immediately usable. As such, it represents a significant step forward for in-house tax teams and advisors alike.”
Loctax AI Assistant incorporates role-based access controls and is designed to ensure that sensitive data remains protected. Customer data is not used to train AI models, supporting secure use of organisational information within the platform.
By combining company-specific data with trusted global tax content, Loctax AI Assistant enables teams to generate more relevant insights, move faster, and make better-informed decisions. This approach underpins our continued focus on delivering intelligent solutions that address the real challenges faced by tax professionals and make a tangible difference for our customers.
Loctax AI Assistant is available immediately to organisations across the globe.
Loctax is a Tax Systems company.
Visit our Loctax AI assistant webpage……to find out more and book a demo so you can see it for yourself. |