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Creating effective business strategies in today’s market can be challenging, be it dealing with talent shifts, managing regulatory changes, resolving business or environmental disruptions. Whatever your ambitions, our Tax Reporting and Strategy team will provide curated tax operational strategies and digital upskilling programmes to help you navigate the change. From development to execution, we combine strategic advice, technical expertise and technology to help tax functions optimise performance and manage risks more effectively.
Managing tax in a dynamic and digital world
Simplifying complexity to bring together tax function design, technology and compliance delivery to help you transform how your tax function performs.
Helping you to deliver more with less
Compliance across accounting and tax reporting is becoming increasingly complex. Companies are struggling to do more with less while driving value out of their tax and finance functions. In a rapidly changing global landscape and rising environmental, social and governance (ESG) agenda, organisations need to establish better control and comply with the tax and accounting obligations and rules in foreign jurisdictions that they operate in.
Through specialist local compliance teams (Global Compliance Services), we can help you to manage the ever-changing tax reporting obligations more effectively. We assure you that the process of transition to this new operating method will be fluid, that you will fulfil your obligations punctually and cost-effectively. Outsourcing your global compliance services does more than just helping you to manage risk and resources, but can also allow you more time to focus on higher added value activities.
PwC’s Global Compliance Services network has the necessary expertise to do all of this.
We can help by:
- Coordinating all the tax compliance activities (e.g. direct and indirect taxes, tax accounting, preparation of statutory financial statements and country by country reporting) through a dedicated client relationship team for your subsidiaries.
- Using Engagement Centre to collaborate with you around the world, including effective exchange of data sources, transparent review of deliverables and real-time access to status, workflow and deliverables.
- Refining and improving the processes related to data gathering for the tax reporting.
- Helping you to gain control with central real-time dashboards, data, and information to collaborate and monitor progress, so you can respond to opportunities proactively, quickly, and intelligently.
- Delivering compliance requirements for all your entities, seamlessly and cost-effectively together with our local country specialist teams.
- Reviewing your current global compliance operating model, and identifying and delivering transformational opportunities.
- Providing a proven, systematic, and integrated approach, with service offerings that cover the full tax lifecycle. Our solutions are scalable to your specific technology environment and can be customised to meet your overall needs.
Tax governance & risk management
Due to changes in tax laws and regulations, new accounting standards, and increasing scrutiny of how much tax is being paid by organisations, being confident in tax numbers is more important than ever. The tax function’s ability to deliver hinges on keeping pace with today’s ever-evolving regulatory changes, while also supporting the overall business strategy, requires a formalised and robust tax control framework.
We provide flexible and thorough solutions to help improve your tax function's performance, while managing risk. Our holistic, practical and scalable approach will help in assessing the current operational state, organisation culture and realistic appetite for change, to create a roadmap that works towards improving efficiency and delivering strategic goals. Our review centres around four key areas: people, processes, technology and data.
We can help by:
- Providing an assessment of your tax functions to develop a 'target future state' whilst assessing transformation opportunities.
- Developing opportunities to improve key tax functional processes, supported by a nimble tax organisational design.
- Assessing the maturity level of your current and desired tax control framework.
- Support implementation of an end-to-end tax risk management approach.
Explore more:
- Corporate Tax Governance - A strategic and sustainable approach to tax
Global businesses are used to operating in a world of constant flux, complexity and uncertainty, but there are changes on the horizon. Now is the time for a corporation, together with its stakeholders, to place tax in the context of its purpose, values and sustainable business strategy. Find out more in our publication on corporate tax governance and sustainable tax together with our examples of tax governance related regulations around the globe.
Designing and delivering tax strategy and target operating models
The extent to which a tax function is able to create value largely depends on its ability to adapt to the constant regulatory changes. Forward-thinking tax departments are carrying out thorough current-state assessments that provide a roadmap to improve efficiency while delivering strategic goals. These assessments take into consideration the current operational state, culture and realistic appetite for change. We define the role of tax management in your organisation by creating a tax strategy which integrates the wider stakeholders such as finance and operational staff. Our customisable, holistic and scalable approach assists in reducing tax function’s risk while increasing effectiveness and efficiency. We start by providing insights into the current-state of your tax function operations through the review of the key areas of your tax function - people, process, technology and data.
We can help by:
- Assessing the maturity level of your current tax function using our Tax Management Maturity Model (T3M).
- Aligning tax organisational design with continuous strategic tax initiatives.
- Supporting you as you implement an end-to-end tax risk management approach.
- Co-developing a vision for your future tax operations and actionable road map to transform your tax function.
Optimising data and technology
Technology can transform your tax function into an efficient enabler of your business goals. In response to changing tax requirements, our technology team has developed solutions to improve data quality and automate processes. An effective modern tax function has a defined technology strategy, closely aligned with the rest of the business. Our experienced specialist team can develop a clear roadmap developed to better integrate new technology or optimise existing technology, into the overall organisational strategy. We will work towards identifying, mapping and transforming your tax processes, harnessing the latest technology developments to automate where it adds value.
We can help by:
- Working together to develop a tax technology roadmap, taking into account tools currently used within your company.
- Automating manual processes, reconciliation reporting, and web-enabled data collection. Our solutions draw on automated data workflows that integrate with an overall tax data-management framework.
- Upskilling your teams in automation trends to identify practical use-cases. This will help you apply small automation to the way you work, as well as supporting the tech enablement of your tax function over time.
- Deploying or running these areas as a managed service to enable you to automate processes more rapidly.
- Establishing a sustainable and agile governance model that formalises roles and responsibilities of key stakeholders, appropriate internal control framework to deal with and change management challenges, and to monitor business or legislative changes.
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