Tax Reporting & Strategy

Improve how your organisation collaborates and performs by including analytics and technologies

Regulators from all over the world have increased scrutiny bringing compliance and how tax risks are managed on top of your agenda. In this fast changing world, companies are facing complex reporting and tax compliance obligations. At the same time, there is a constant drive to use technologies, processes and people efficiently to meet compliance and accounting obligations.

Challenges facing today's tax organisation

Some of the key challenges that we often see tax functions facing are:

  • Inadequate access to quality information: Tax departments often find it difficult to obtain and analyse the right data, with multiple sources and people working on the information.
  • Outdated technology: With inadequate updates to technology being used by the tax functions, there's an excessive use of templates and non-automated systems.
  • Lack of documentation: If processes aren't well-documented, it's difficult to know the status of a project, when people leave or you're dealing with an audit situation.
  • Use of disconnected systems: There's often an excessive use of email to collaborate, which complicates the collaboration and documentation process.

With these challenges, tax groups often are in firefighting mode to address the issues of the day, with little time and opportunity to be the strategic and proactive function that they’d like to be.

Take full advantage of the opportunities presented by a technology and data enabled world

Our Tax Reporting and Strategy team can help your tax function recognise its potential and transform into a proactive and strategic business partner by:

  • Conducting a tax strategy assessment
  • Establishing a collaborative workflow platform
  • Improving data management
  • Making the most of technology

We first understand your needs, and then use our team's knowledge and experience to help you realise your tax transformation goals, so you get:

  • More time for strategy: less manual effort means tasks like accumulating, manipulating and validating data can be completed much faster
  • More informed decision making: as you spend more time on strategic activities, you can use analytics to focus on business opportunities and forecasting
  • Greater access to useful information: the tax group will find it easier to locate and examine archived data to defend tax positions, make strategic decisions, and have richer dialogues
  • Reduced financial reporting risk: enhanced processes and automation can reduce surprises and the risk of tax financial reporting errors
  • Improved compliance: the extra time spent on review and analysis improved the quality of tax compliance

Contact us

Luc Trivaudey
Tax Reporting Services Leader, PwC Luxembourg
Tel: +352 49 48 48 5055
Email

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