US Patent 11983780 System and method of determining tax liability of entity

Disclosed is system that determines tax liability of entity. The system comprises server arrangement and database arrangement coupled in communication with server arrangement. The server arrangement is configured to: (a) obtain information pertaining to entity; (b) perform natural language processing on the information to generate conceptual representation; (c) determine at least two tax jurisdictions towards which entity has tax liability; (d) access, from database arrangement, knowledge-based information and/or regulation-based information pertaining to tax for at least two tax jurisdictions and analyse the knowledge-based information and/or the regulation-based information to generate conceptual representation of knowledge-based and/or regulation-based information for at least two tax jurisdictions; and (e) analyse conceptual representation of the information, based upon conceptual representation of knowledge-based and/or regulation-based information, to determine tax liability of entity towards at least two tax jurisdictions, wherein server arrangement, by analysing conceptual representation of the information, reduces errors or inaccuracies present in the information.