PwC India enters AI race in Tax

As professional services firms race to embed AI into their services, PwC India on Tuesday introduced a GenAI platform, Navigate Tax Hub.

The firm said that the tool can now do deep research and analysis of complex tax matters, drafting common tax documents (such as legal submissions, tax position papers, SOPs), planning and analysing business transactions and contracts.

“As a tech native business, we see technology not just as an enabler but as a catalyst for reinvention. Navigate Tax Hub exemplifies this shift,” said Sanjeev Krishan, Chairperson, PwC in India.

The firm said that the platform has been developed as part of the firm’s Vision 2030 strategy, leverages advanced AI, PwC’s tax expertise, and secure document integration to drive efficiency, accuracy, and value for tax teams. PwC India, under Vision 2030 is looking to triple its India revenue and take the total number of employees in India to 50,000 from 30,000 currently.

“Unlike general-purpose tools, Navigate Tax Hub follows PwC’s proprietary logic powered by its deep expertise in the tax domain. This ensures that the responses are aligned with established tax principles, consider all relevant aspects of law, and addresses the risk of hallucination,” PwC said in a statement.

“Navigate Tax Hub marks a paradigm shift in how tax teams work and think. It signals the beginning of seamless AI-human collaboration, setting the new normal for the next generation of tax functions” said Siddharth Mehta, Partner & Tax Technology Leader, PwC India.