Turners Shipping has launched its web-based tool designed to assist companies with excise tax compliance.
After a year of intensive development and testing Athena promises to be something of a game-changer, this is according to Gregory Marks, National Excise Manager at Turners.
“It is a computer-driven system that provides members of the petrochemical industry quick and accurate information about their excise exposure on a monthly basis, and real-time inventory management in the Customs and Excise, Clearing and Forwarding environment,” he said.
Athena integrates with logistics software systems and gathers and processes the information on imports, exports, local removals and storage to make the calculations. This automated system replaces the time-consuming manual operation and is more accurate.
“The software enables clients to provide SARS with records reflecting an audit trail ensuring full Tax compliance. System efficiency is important as there is a limited two-year period for companies to submit excise claims to SARS,” he added.
Athena is modular, and clients can choose to use the entire suite of four modules or just the ones that best suit their needs.
“The tax compliance environment is ever-changing, and our systems have been designed with this in mind,” said Gregory. “The software architecture is such that we are able to respond to any changes in regulations.