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Transaction Tax and IT Systems
Transaction Tax and IT Systems
How can tax departments overcome transaction tax complexities as they work across borders, while adding even deeper value to their businesses?
Businesses that report transaction taxes, such as GST, sales and use, or VAT in an international environment, can face a daunting task as they strive for efficiency, accuracy and compliance amid continual disruption.
So how can corporate tax departments overcome these complexities as they work across borders, while adding even deeper value to their businesses?
Using extensive knowledge of both transaction taxes and technology systems, KPMG helps clients redesign their transaction tax decision-making and return-preparation processes, improving data consistency and providing a mechanism for adapting to potential changes in either the tax reporting processes or the underlying technical rules.
As a result, tax department's productivity is increased by:
- easing the administrative burden and improving the accuracy of transactional tax reporting data
- reducing assessments or overpayments of transaction taxes
- providing an opportunity to redirect resources from tax reporting to more rewarding activities, such as tax planning and analysis
- helping to return the tax decision-making responsibility to the tax department (from other areas such as accounts receivable, accounts payable, purchasing, and billing departments)
- reducing audit cycle time.
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KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.
