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Tax Reporting and Strategy

Meeting tomorrow's tax challenges today

Redesign, redefine and redeploy the tax function to be a strategic business asset

In a fast changing world, we’re helping clients build a tax function for the future. Our complete approach to tax management brings together tax function design, technology and compliance delivery. By aligning your tax and tax technology strategies with your commercial goals the tax function will become a strategic business asset, adding value across the organisation.

Understanding your organisation’s challenges, goals and needs is just the start. Successful change will require re-engineering ‘end-to-end’ processes not just the final outputs.


Tax strategy and operations

The rapidly changing tax landscape is shifting the focus of senior management onto how tax is managed in your business and how the tax strategy aligns with the commercial goals of the organisation.

Tax authorities increasingly expect organisations to be able to confirm that tax risks are appropriately managed in a way that facilitates real time compliance and data oriented auditing. In July 2015, the ATO released its Tax Risk Management and Governance Review Guide formalising its views on tax governance and tax internal controls. There is also continued demand for increased transparency from a wide range of stakeholders.

We’ll work with you to:

  • Perform current state reviews of tax management across the business using our Tax Management Maturity Model (T3M)
  • Develop a tax strategy that’s aligned to the organisation’s commercial goals
  • Develop and implement a detailed roadmap for transformation
  • Improve the effectiveness and efficiency of your processes and controls
  • Undertake detailed risk management reviews
  • Identify and manage the risks and challenges arising from change
  • Meet the demands for increased transparency

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Tax technology

Tax technology

Increasingly, tax functions understand the value of leveraging technology to drive greater efficiency, improve tax processes and manage risk. Whilst companies largely understand the importance of creating strategies around tax technology and pursuing related initiatives, most have yet to make appropriate investments in these areas. These investments play an integral role in transforming tax into a strategic business partner within the organisation.

We’ll work with you to:

  • Develop and implement a tax technology strategy for your business
  • Discover the power of tax data management and analytics to assist in decision-making
  • Understand the benefits of using technology to collaborate, automate and monitor tax processes and workflow using our Tax Operations Manager (TOM)
  • Unlock the potential of your existing ERP systems for tax
  • Improve tax accounting processes

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Tax accounting services

Keeping track of tax law changes around the world has become a growing challenge for multinationals, many of whom are rapidly expanding their geographic footprint at a time when jurisdictional tax laws are undergoing nearly constant change. Naturally, changes in tax law have an impact on tax planning, as well as tax return preparation and, ultimately, tax cash flows. Those consequences, however, are often preceded by the impact of such changes on company financial reporting.

We’ll work with you to:

  • Reduce risk and achieve better control over your tax accounting function through improved and more efficient processes
  • Provide guidance, and best practices, on a range of tax accounting issues, including:
    • Tax provision outsourcing and support
    • Accounting for uncertain tax positions (including FIN 48) assessments
    • GAAP conversion modelling to determine the tax and accounting impact of moving to a different GAAP
    • Other specialised tax accounting services, including deferred tax analyses and tax basis balance sheet assistance
    • Tax accounting technical assistance and support, including customised training

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Tax reporting and compliance

Many companies are rethinking their approach to domestic and global compliance and reporting by taking a closer look at their technology, processes, resources, and service providers. Leading tax functions are using co-sourcing/outsourcing as a critical component of tax function strategy, and as a means to better align tax function investments and use of talent with organisational goals.

We take an integrated, global approach to the delivery of local compliance services. We’ll work with you to:

  • Seamlessly and cost-effectively undertake domestic multi-tax compliance and coordinate all the tax compliance activities (e.g. direct and indirect taxes, tax accounting, preparation of statutory financial statements and country by country reporting) for your subsidiaries, across diverse accounting, legislative, tax and business environments
  • Ensure effective exchange of data sources, transparent review of deliverables, and real-time access to status, workflow, deliverables and critical information via our web-based collaboration portal, Integrated Global Compliance Services (IGCS)
  • Deliver centralized coordination and communication through our experienced client relationship managers

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Contact us

Warren Dick

Tax Reporting & Innovation Leader, PwC Australia

Tel: +61 419 479 279

Chris Rogaris

Partner, PwC Australia

Tel: +61 (2) 8266 3485

Robert Gallo

Partner, PwC Australia

Tel: +61 3 8603 1494

Sarah Saville

Partner, PwC Australia

Tel: 612 8266 8665

Lisa Steadman

Partner, PwC Australia

Tel: +61 2 8266 3493

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