Today there is heightened focus and discussion amongst governments and the public as to what constitutes ‘fair share’ when it comes to taxes, and companies face increasing pressure to be more transparent about tax positions in each of the jurisdictions in which they do business.
As companies face these mounting challenges, KPMG’s Tax Transformation network helps them to build and operate leading tax functions and to manage their tax risk, reputation and compliance in a world that is increasingly regulated. KPMG’s Tax Transformation team tackles these challenges with approaches in three key areas:
- governance: What is your strategy and how do you implement it?
- compliance: How can you meet tax rules efficiently and effectively?
- technology: How can tax technology improve efficiency and control?
How clients benefit
KPMG member firms can help clients establish a clear tax vision and strategy aligned to the business objectives of the wider organization and help put into place the governance framework to make it happen. Their strategies articulate how the tax function can deliver value, mapping the processes and controls needed for effective risk management and offering benchmarks and key performance indicators to demonstrate success.
KPMG member firms help clients actively contribute to finance transformation projects to help ensure that tax requirements are built in and tax is positioned as an enabler. They can streamline processes and manage country compliance obligations through their dedicated Global Compliance Management (GCMS) network and KPMG LINK 360 technology, which is a secure, webbased application that helps organizations manage worldwide compliance operations. Backed by these tools, these professionals can deliver on all aspects of tax reporting and help clients go beyond compliance to achieve competitive advantage.
KPMG professionals know how to leverage technology to help organizations enhance effective management of tax and mitigate risks. This can free up vital resources, enabling them to spend less time on compliance and validation activities and more time on strategic priorities. They help organizations ensure existing finance and/or enterprise resource planning (ERP) systems are properly tax sensitized to provide standardized tax determination and reporting functionality across a business, as well as put in place tools to help ensure effective Country-by-Country reporting requirements and enable informed strategic decisions and improved performance.