The rapidly changing business environment and the increasing globalization of tax legislation and reporting requirements create additional tax compliance risks for all taxpayers. Adequate technology, management and compliance measures can help you to better control the tax aspects of your operations, increase efficiency, manage high volumes of data and reduce your tax compliance and reputational risks in all areas of taxation.
Would you like to harness the latest technological solutions to enhance your compliance across all your operations and locations? Could you use assistance to transform your tax function according to good international tax management practices? Or, do you aim to design and implement a Tax Policy and Compliance Framework and build a cooperative relationship with the tax authorities?
Our Tax Technology, Management and Compliance experts can assist you with global compliance and tax management services, tax technology and transformation projects, as well as with the development and implementation of comprehensive tax policy and control frameworks. Our team also delivers Managed Services, taking over complete finance and tax processes from clients.
Tax Strategy, Policy and Management
A strong tax management function and well-designed internal processes are key in ensuring accurate and timely compliance with all your tax and reporting obligations. New legislative requirements and changing business models frequently create risks that need to be identified and handled proactively in all areas of taxation. This requires a robust tax function, which also contributes to a more effective financial management and connectivity of business areas.
We can assist you to organize your tax function, define a Tax Operating Model, and re-assess or develop a Tax Strategy that best fits your corporate culture, operations and structure.
We can also help you develop a Tax Policy and put the Tax Operating Model and Policy into practice. Hereby, we apply a holistic approach with coverage for all main taxes, while also considering sector specific items.
Furthermore, we can map and review your current tax compliance processes and controls and recommend improvements per tax type. Based on our recommendations, we assist you with implementing these improvements to reduce tax compliance risks and achieve efficiency gains.
We can also implement a Tax Control Framework.
What are the benefits of having a Tax Control Framework?
A Tax Control Framework is a prerequisite for entering into collaborative compliance arrangements with the tax authorities. Having your own Tax Compliance Framework can be beneficial even if you do not participate in collaborative compliance arrangements. These frameworks contribute to a consistent approach in applying the Tax Strategy, Policy and individual processes group-wide and will enable early detection and remediation of deficiencies. Furthermore, it strengthens connectivity between business areas and corporate functions.
We can assist you in developing a Tax Control Framework that is tailored to group requirements.
Can you elevate your tax function?
Technology is an important component to increase efficiency and elevate your tax function to the next level. We offer innovative solutions that can be customized to your needs, regardless of the size and the scope of your business.
The Tax Technology team is fully integrated into our Tax practice. This means that technology has become an integral part of our thinking process, no matter which Tax service you require. When proposing tailor-made solutions or process improvements, we remain fully technology-agnostic and make sure that suggestions can leverage your existing technology landscape.
If custom development is required, our solutions can be fully tailored to your corporate brand. Fully integrated, our solutions become virtually indistinguishable from in-house developed solutions. When working with KPMG, you can rely on the experience of our Tax consultants, data experts, development experts, technology consultants and RPA specialists. Our experts will work together in close collaboration with your own professionals.
Our solution offerings cover various areas of tax and reporting obligations, including:
- Tax return preparation and filing;
- Tax reporting solutions;
- Workflow Management;
- DAC6 reporting;
- XML filing converters (BEPS, forms 281, Intervat filings);
- Tax Data and Analytics solutions, simulations and dashboards;
- Flexible reward programs and simulations;
- Tax calculation engines and fund simulators;
- Process automations; and
- Enterprise Resource Planning.
If you are interested in solutions for other areas not mentioned above, feel free to contact us. Our Tax Technology team will not only assist you in implementing the above solutions, but can also analyze and implement IT solutions exclusively developed to your needs.
Tax Compliance Outsourcing
Do you need support to ensure your tax compliance?
Helping you to manage your local and global compliance obligations is the heart of what we do. We see Tax Compliance Outsourcing not just as the (global) outsourcing of compliance formalities but as an enabler to optimize your tax organization, processes and functions.
We have dedicated compliance specialists in all jurisdictions who are connected by central teams with strong PMO-skills. This enables us to deliver a coordinated global compliance service you expect.
Our local teams provide technical insight and advice on your local compliance requirements, while the central team provides leadership and deep experience to help in the implementation of global compliance processes, controls and technology, including overall project and change management.
We offer Managed Services, going beyond the traditional outsourcing scope, with a capability to take over entire finance, tax and accounting processes.
Key features of our services include:
- Transformational approach;
- Dedicated global network;
- Collaborative approach;
- Tailored delivery model;
- Lean6Sigma process improvement;
- Enabling technology and data analytics;
- Integrated governance framework; and
- Managed Services capability.
Enterprise Resource Planning
Do you want to master ERP data?
ERP systems are necessary to administer your company resources, but are often dreaded for their complexity and lack of transparency. These systems have not been designed primarily with VAT/Tax in mind, and the data provided by the system can be overwhelming. All too often, enterprises are confronted with more manual work for attaining the desired and required degree of accuracy of VAT/Tax filings, which in turn results in a higher cost of compliance.
Nevertheless, many ERP systems provide advanced possibilities for VAT/Tax calculation. It is usually possible to track the full VAT/Tax return process, from order entry to invoice payment, within the data provided by your ERP system. Moreover, the ERP system contains historic VAT/Tax data and change logs, providing your enterprise with solid foundations for your VAT/Tax return.
Our multidisciplinary team builds bridges between your VAT, Tax or Finance teams and IT specialists, in order to maximize the possibilities of your ERP system. Our team helps to substantially reduce risks and costs of VAT/Tax compliance, implementing and improving the VAT, Tax and Intrastat functionalities of your ERP system. The faster an ERP tax specialist is involved, the more efficient your data can be streamlined and the greater your chances of submitting correct VAT and tax returns.
Tax Accounting and Reporting
Do you adequately anticipate the tax accounting and reporting impact?
Complex and changing tax regulations combined with highly technical accounting standards can make accounting for income taxes a challenging task. In addition, limited resources within companies mastering both financial accounting rules and international tax law, pose a tangible risk of incorrect reporting of income taxes, impacting overall financial reporting. This makes effective and pro-active tax management and reporting crucial in an environment where a company’s stakeholders show heightened interest in tax transparency.
Our Tax Accounting and Reporting team can assist you in facing these challenges and in identifying value added opportunities by offering the following services:
Tax provision support
We can provide tailored assistance ranging from year-end review of an income tax accrual computation for a local subsidiary to the quarterly preparation of the whole group’s tax reporting, including return to provision adjustments and assessment of uncertain tax treatments.
Tax management and reporting
Pro-active tax management requires you to be in control of your effective tax rate and tax cash flows and to anticipate variations in this respect. We can help you with the preparation or review of income tax disclosures and related analysis as well as with tax planning through the modelling of current and deferred tax impacts in large projects.
Tax accounting advice and training
Our services range from advice on how to account for a certain transaction and its tax effects to the organization of tailored trainings or workshops on accounting for income taxes. Where appropriate, together with our IFRS or US GAAP experts, we can also offer trainings and workshops on other relevant topics.
Tax processes and technology
Our team of tax accounting experts and technology specialists can perform complete process reviews and assist with the automation of tax reporting and disclosures, as well as provide support in the selection, development and implementation of tax reporting solutions.