Transform your tax control and risk management processes to stay on top of the developing regulatory requirements with our three software products including a process management tool, a lean tax risk management tool and a web-based questionnaire.
Enabling the tax function of the future
Tax technology and data analytics
Going digital?
Today’s tax environment is often strangely disconnected: On the one hand, tax specialists use smart phones, social media and ERP systems both privately and professionally. On the other hand, most tax functions still rely heavily on Excel spreadsheets. Highly skilled tax specialists spend half their time or more with manual data cleansing, aggregation and manipulation.
PwC predicts that in the near future, the majority of tax functions will rely on professional data analysis tools to assist in the decision-making process in areas such as risk detection, planning and overall business support.
Our expertise
We help our clients with efficient technology solutions to reduce cost and help transform their tax functions into modern efficient business enablers. We are extremely familiar with both tax and technology and can serve as your one-stop-shop for everything related to tax technology.
- Set-up for Tax Technology
- Development & implementation of software
- Analytics & usage of tools
- Optimisation of technological environment
- Tax Strategy
- Tax Control Framework
- Tax Risk Management
- Tax Transparency
Set-up for Tax Technology
Many tax functions find it difficult to define the right technology strategy. Likewise, they lack often an overview of the tax technology available today.
How we can help
- Preparation and review of strategy, policies, manuals and guidelines
- PwC market intelligence on vendors active in the market and their solutions
- Reviewing business need
- Organising and supporting selection process
- Assistance with selection criteria
Development & implementation of software
Tax technology tends to be slightly more complicated than an office suite – its implementation typically requires some level of customisation, even if you go for a “standard solution”.
How we can help
- Building of business case
- Implementation of standard tax technology solutions
- Design, prototyping and programming of custom solutions
- Connectivity between different systems, e.g. tax and accounting
- Testing and validation
- User support
- Consulting regarding legal aspects, such as data privacy legislation
Analytics & usage of tools
On the one side, analytics enables you to understand whether your data reflects your business correctly – in real time. On the other side, it is about staying ahead – understanding your data at least as well as the authorities.
How we can help
- Support in data extraction
- Improvement of data consistency and efficiency
- Mapping of processes
- Reconciliation of data in various system
- Identification of trends and patterns
- Super- and end-user training
- Preparation and review of documentation
Optimisation of technological environment
Like any piece of technology, over its useful life, tax technology requires optimisation and maintenance.
How we can help
- Speed, precision and cost optimisation
- Review and audit of:
- Tax processes, e.g. the compliance cycle from tax provisioning to tax return filing
- Tax-related systems, e.g. evaluation of input VAT deduction calculation software
- E-invoicing and e-archiving systems
- System migrations
Tax Strategy
The fundamentals balancing the myriad of tasks in the Tax Function should take into account your risk appetite, what are the focus areas and signed off by the Board.
How we can help
- Support on review or definition of a Tax Strategy and Tax Policies (e.g. roles and responsibilities within in the Tax Function)
- Support in the communication of taxes in general and specially on Tax Strategy with Board/Senior Management
- Analyse whatever perception or substantive gaps exist between stated core values and overall tax strategy and disclosures
- Check consistency between communication strategies, e.g. if the business is publishing their sustainability strategy, we help them understand how it could impact their tax strategy
- Assistance with definition of a business case to transform the Tax Function
Tax Control Framework
Companies want to know or achieve their desired levels of maturity but struggle in the implementation for achieving desired state or communicating this to key stakeholders of the tax function.
How we can help
- Maturity assessment of the Tax Function (Tax Maturity Management Model – T3M)
- Structuring the Tax Function
- Review, design and amendment of the Group’s Tax Control Framework
- Implementation of the Group’s Tax Control Framework
Tax Risk Management
Businesses have no clear or a well established Tax Risk Management Framework. Therefore identifying where do key tax exposures are or might arise, how to address and monitor them and how to develop a response is still a challenge.
How we can help
- Enhancement to better deliver the agreed tax strategy, ensuring that processes and controls enable tax risks to be managed.
- Review or definition of questionnaires
- Review of risk assessment
- Support in the collection and presentation of risk inventory (TRaC Tool)
- Documentation of tax risks and tax risk management process
Tax Transparency
Public debate and scrutiny of tax is often misinformed and exclusively focused on corporation tax. It is necessary now more than ever to raise awareness of other taxes, such as industry-specific taxes and other contributions made to the public finances.
How we can help:
- Support on the quantification on the totality of taxes paid and collected, including wider economic footprint, under the PwC Total Tax Contribution methodology.
- Tax Transparency and Effective Tax Rate Benchmarking
- Total Impact Measurement and Management (TIMM)
- Crosscountry study with TTC Modelling
- Tax Rulings Exchange support
Our tax technology products
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