Companies can face a number of burdens and risks when trying to comply with direct-tax requirements. If not properly managed, these requirements can result in harmful tax liabilities, especially for a decentralized organization that operates in different jurisdictions.
However, there are ways businesses can better enable their tax functions to address the challenges of direct- tax compliance.
Companies that can leverage the power of automation, data and analytics, and rules-based tax engines will be better able to manage and respond to common direct- tax challenges. These include dealing with calculating direct tax for a decentralized tax organization, responding to uncertain tax positions by jurisdiction in real-time, automating manual procedures for data management, and instituting more centralized controls and data hygiene. KPMG’s direct-tax services and global experience joined with Thomson Reuters ONESOURCE Direct Tax Suite provide a leading combination to help companies more effectively address their direct-tax obligations, operations, and reporting. Working with ONESOURCE, KPMG can help companies more effectively address their direct-tax reporting and operations, including global tax compliance requirements, and data and analytics for improved outcomes.
The KPMG and Thomson Reuters ONESOURCE Direct Tax Solution
KPMG’s direct-tax services and global tax experience combined with Thomson Reuters tax technology can help organizations use intelligent data and analytics with process automation at the core to transform tax data into valuable insights on a real-time basis. This enables companies to gain real value from their transaction tax data, significantly increasing their ability to effectively manage their tax liability and compliance costs.