Not only are our internal systems and software both efficient and accurate, we also have the ability to accept (import) fuel data directly into our systems from all of the major fuel card suppliers and we can work with you to make arrangements to receive your yard fuel issues in an electronic format as well. Furthermore, we can accept GPS data from any GPS provider to make your IFTA fuel tax reporting truly paperless.
Permitax has built in extensive controls to its data analysis procedures. This ensures that all data captured and analyzed is accurate and will limit your vulnerability in an audit situation.
To ensure accuracy, Permitax conducts internal audits on your data to monitor specific areas which could result in audit assessments. In essence, we perform the same checks that an auditor would in an audit. The internal audits will bring attention to problems such as high or low MPG/KPL's, gaps in distance, missing or unallocated fuel, unusually high distances traveled, duplicated fuel receipts, and much much more. These problem areas are monitored through our "Exceptions Reporting" system on an on-going basis. Errors and gaps are corrected resulting in more accurately reported information.
If you or your current fuel tax provider simply process your mileage, fuel and toll data at face value and do not perform any analysis to find and correct errors (exceptions analysis), then you are greatly increasing your risk of filing incorrect tax returns and reporting incorrect mileages; and the ramifications of this are many fold.
Let's face it; data is never 100% perfect. We all know that drivers make errors in recording their trip and fuel information and there will always be missing, incorrect or mis-allocated data. Our system seeks out these errors through our proprietary exceptions reporting analysis and we correct the issues before completing your tax returns and producing your management reports. This process ensures a higher accuracy of the data reported.
When it comes to accurate GPS data, we are able to do even more analysis on your information. With a minimum of 15 minute GPS "pings" and ECM odometer readings we are able to accurately determine the distance traveled by each vehicle in each jurisdiction and to perform odometer reconciliations for a further layer of reliability. In addition, we layer in your electronic fuel and NY toll information to further support the routes traveled. All of this detail and analysis ensures that your fuel tax information and management reports are as accurate as possible.
Permitax provides audit support in the event that your organization undergoes an IFTA or mileage tax audit, for as long as you are a client.
Permitax's management staff has developed an expertise in refuting audit assessments as well as a rapport with the various State and Provincial auditors. This limits the frequency with which our clients are audited and greatly reduces audit assessments.
The long term savings associated with Permitax are generated through the detail and accuracy of our reporting systems. Our staff has been highly trained in correctly reporting IFTA fuel taxes and our management staff has dealt with hundreds of IFTA and mileage tax audits.
Our software has been developed internally and is continuously improved with a dedicated IT department.
All of this translates into a reduced risk for your company as we strive to reduce or eliminate any unexpected audit assessments or large cash outlays.
It is important to step back and assess your current system and ask yourself: Is my fuel and mileage tax reporting being done accurately? Will my record keeping systems stand up in audit or will I be assessed large amounts some time in the future? Does my current system find exceptions and correct problems before any tax returns are filed?
The key to withstanding an IFTA or mileage tax audit is to ensure you are keeping the proper records and data, your information is as accurate as possible, what you have filed is supportable in audit and you know how to handle the auditors and know what they are looking for. Accuracy can only be obtained through a system of checks and balances such as exceptions analysis highlighting problems and missing (GAP) information. Analyzing and correcting problems with your data is key to ensuring you are only paying the taxes you owe - not too much and not too little.
That is what Permitax offers, all included in one per truck per month fee.