KPMG is here to support your tax transformation | KPMG | CA

How we can help you get there

KPMG is here to support your tax transformation

Designing tools to give you the management information that you need

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Data and information

Data enablement

Whether you want to eliminate the need for complex spreadsheets to manage data flows, or move to an integrated tax data warehouse, cost efficiencies can be achieved by eliminating time spent on gathering, consolidating and the manual analysis of data on a repetitive basis. KPMG can support you by:

  • Performing exploratory data analysis and applying advanced analytics techniques to identify
    weaknesses in business and tax processes that may require remediation
  • Delivering a wide range of proprietary and third-party solutions to efficiently gather, consolidate
    and analyze data through greater automation
  • Implementing data warehouse solutions to enable full access to historic and current data
  • Putting in place data analysis tools to act as a compensating control

Workflow management

We have experience implementing a variety of third-party and proprietary workflow management tools to provide you with a secure, structured environment to monitor and control your tax and statutory compliance requirements and positions. Together, we can help you have oversight of all tax and non-tax filing requirements, and of the overall compliance position across divisions and borders, providing globally consistent compliance management and reporting.

Integrating tax software and tools

We will work with you on the design, configuration and implementation of technologies, including integration with upstream systems. Our teams have knowledge and experience with a number of third-party product suites and platforms, including Wolters Kluwer’s CCH® Taxprep professional suite, Thomson Reuters’ ONESOURCE® and Oracle’s Hyperion® platform.

Maximizing the tax functionality of existing platforms

We review existing platforms and financial accounting systems for the purpose of tax sensitization in order to provide faster, more accurate data required for tax determination and reporting, and effective integration with other tax applications.

Automation

Tax provision automation

We are certified implementers of industry-leading provision automation solutions and can review the end-to-end implementation – from process and technology design, configuration and testing, right through to the conversion and integration of these systems post-implementation.

Tax compliance automation

Across all industries, we provide a variety of automation services that can pull the information from your data and automate the population of the returns and elections you need to prepare. We have extensive experience automating the completion of T2 (from provision automation solutions, Excel work papers or GL extracts), T3, T5013, information returns, rollover elections, business traveler T1 and 1040 returns, to name a few. We also have experience automating foreign reporting including T1134, T106, and country-by-country reporting.

Sourcing and implementing third party tools

We assist you to assess your sourcing options for tax software and tools to determine how you can manage your tax and statutory obligations in ways designed to be efficient and effective for all taxes, including business case design and implementation of software – from workflow management platforms all the way through to tax engines.

Decision support and stakeholder value creation

Decision support

Having control of your data offers you the ability to provide strategic value through improved planning, forecasting and modelling. KPMG’s technology tools can support you with a suite of products that facilitate exempt surplus calculations, safe income calculations, capital asset reviews for tax purposes, and intercompany transaction analysis and planning.

Tax data & analytics

We can assist you with the extraction, management and analysis of large amounts of data from financial and tax systems, which can be transformed and reformatted to interface with tax applications or custom-built data analytics tools for reporting, analysis and decision support. This will help give you faster and more accurate information in order to help make informed strategic decisions and to provide operational insight and greater value to the business.

Designing tools that strive to give you the management information that you need, with sufficient level of detail allows for faster, more accurate reporting and forecasting, and enables informed strategic decisions and improved performance.

  • Advanced analytic techniques are also used to conduct a comprehensive review of previously filed income and indirect tax returns to identify opportunities for missed savings.
  • Data analysis tools can also be leveraged to act as safeguard controls against identified weaknesses in your business and tax processes.

Questions to ask yourself

  • How do you currently ensure that data is consistent across the planning, provision, and compliance processes? Do you have challenges with data management (collection, storage, recall)?
  • How might robotic process automation tools offer value to your tax function?
  • How recently have you assessed your existing technology platforms?

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