Business management systems. Are we sufficiently prepared for the 2019 tax reform?

In our software we have developed a mechanism enabling to recalculate salaries according to the requirements of the tax reform.

The recalculation coefficient, recalculation time, recalculation accuracy to 4 decimal places, different income tax rates for employment related income and sickness benefits, SoDra rates and application thereof at the junction of 2018 and 2019, tax-exempt income amount formula (minimum monthly and hourly salary sizes) effective from the beginning of 2019, and the new annual GPM declaration form are assessed.

The software enables to configure the required values and parameters, thus also enabling to perform automatic or manual recalculation of agreed or official salary or wage coefficients and category coefficients (as needed), round numbers to an integer, by taking into account the requirements of the reform, form contract amendments, generate averages, print recalculated salary amounts, print recalculated averages, if any errors are found, restore data and make recalculations for those employees, print the amendments to employment contracts. The recalculation process can be repeated. It is possible to recalculate the salaries of all/marked employees and/or specific types of salaries.