Tax Reporting and Strategy (TRS)

The quality, accuracy and timeliness of data impacts how we manage our tax risks and obligations. Insufficient details captured at the start means significant time is spent tracing data for tax reporting—extraction, preparation and classification. We can help enrich your data for tax reporting by aligning users' requirements at data source that flow through into a tax-sensitised COA. This would be sustained through embedded tax controls for effective data governance to support tax reporting and analytics.

The constantly changing economic landscape has forced businesses to adapt to remain relevant. Regulations are keeping pace with these changes, and businesses are demanding agile tax functions to aid strategic decision making, while remaining compliant with tax reporting obligations.

We can help you become a strategic business partner, giving you relevant tax data insights and real-time business intelligence while improving data clarity, so that you can make informed decisions.

Many organisations are migrating and/or upgrading their ERP systems to become more agile and responsive to market changes, efficient and profitable.

Organisations are starting to consider tax earlier in the process. Tax functions have the opportunity to get "data right the first time" and have tax ready data from a single source of truth by improving data and harmonising processes.

We can support you at any point of your journey or throughout (i.e. design/ execution, while addressing operational, technical and compliance challenges), helping you move in tandem with your ERP project team.

Tax functions are facing unprecedented levels of external pressure and internal challenges which demand rapid response, without losing sight of tax risks and obligations. A robust and cohesive tax operating model and strategy is needed—one that is aligned with the wider strategic objectives of the business.

We can help you design and execute a sustainable tax operating model and strategy to effectively support the business, based on your unique operational requirements.

With the increasing pressure to manage risks effectively, businesses have had to demonstrate that they are able to operate efficiently, while ensuring that tax risk is managed and mitigated to an acceptable level.

We can support you by assessing the operational effectiveness of your tax controls, implementing robust controls/ governance to prevent tax leakages and increasing internal awareness on effective risk management.

Businesses have had to revamp their models and operations to remain relevant. This has prompted digital/ enterprise-wide transformations, which is a timely opportunity for tax functions to ensure that requirements—data, systems and processes—for tax compliance and reporting are also considered.

We can support and collaborate with you to ensure that tax has an integrated role in the transformation initiative. We can also help you implement a robust and holistic tax control framework that ensures tax risks and obligations are managed effectively. This would include a focus on enablers such as workforce, technology and harmonised processes to build an agile tax function that can strategically partner the business.

Many tax functions have to contend with increasing compliance and faster response expectations while managing cash flows.

We can identify and co-develop suitable processes to be enhanced, for instance —roles/responsibilities and tax controls/governance—to minimise costs, reduce time spent on compliance in exchange for more value-added activities, while effectively managing tax risks and obligations.

Disruptive forces around regulatory changes and environmental, social and governance (ESG) issues have accelerated the adoption of relevant technology enablers. This includes investments in automation and other tools to enhance operational efficiencies and the ability to navigate through these changes.

We will work with you to identify your current tools—and time spent—for tax reporting. We will identify potential areas (manual and repetitive processes) and tools for automation. This includes embedding controls into processes/ governance around using the tool or the data required for a sustainable solution.

We can support you by reviewing your tax processes/policies and providing relevant recommendations and insights to enhance tax risk management and compliance obligations. This includes working together with you to identify an optimal solution—aligned to your strategy and based on your requirements—in a seamless and cost-effective manner.

You may be looking to optimise your tax department but you might not be ready or have the right capabilities. We have more than 600 tax professionals globally,  across more than 40 countries that can cater to your needs.

Keeping up with the latest regulatory requirements and responding to increased risks within your organisation can be challenging.

Our IST team has an average of 14 years of in-house experience. This includes working with some of the most complex global multinationals across a diverse set of industries, with a successful track record of teaming with business stakeholders across the tax life cycle.

Data and processes are the backbone of successful tax operations. Getting this right for greater efficiencies comes with their own set of challenges. We have a fully scalable and integrated suite of tax applications built by tax professionals, and products that are designed to manage data and risks in a complex environment. These will address your transparency requirements, meeting multiple stakeholder needs.