• Tax Reporting with Anaplan

A lot is changing in the world of Corporate Tax Reporting. This is due to changes in legislation and the increasing social interest in the tax choices of organizations. To support organizations in this process, Finext has developed several flexible reporting solutions within the Tax topic: Corporate Tax Reporting, DAC 6 and Transfer Pricing Documentation.

By Willem van Os, April 2020

Transparency of fiscal data

In addition to the new legislation of country-by-country reporting for multinationals, the tax paid per country is becoming increasingly important.

Due to these changes and growing trends, there is a growing need among organizations for a detailed and up-to-date insight into tax positions per entity and country. This calls for a practical and efficient solution for global tax reporting. Organizations no longer want to spend inefficient time and collect complex data but rather analyze it.

Flexibele Reporting tool

A reporting tool that creates an overview and insight is not always easy to find. We often see that reports consist of complex and confusing data or formulas that are not understandable to everyone. Anaplan offers possibilities to build in (extra) reporting possibilities without the help of IT. This enhances user-friendliness and flexibility for everyone within the Tax department.

Technical knowledge is not a requirement; you can customize the Tax Reporting App for each user, and visualization of the data can be set up separately for everyone, without impacting the integrity of the data. Anaplan also has a high degree of flexibility, making it easy to adapt to changing circumstances.

By optimizing the tax processes, labor-intensive and time-consuming tax reports are a thing of the past. The processes are faster and more stable, preventing noise and providing a clear and up-to-date picture of the tax processes’ current state.

Insight into tax positions

Time-saving and optimal efficiency

Extensive reporting possibilities

User-friendly and flexible

Corporate Tax Reporting app

Anaplan’s Corporate Tax Reporting App is a new planning and modeling tool that supports the tax environment’s growing demands. This solution simplifies the collection of information around tax risk monitoring and planning.

Manual and error-prone work becomes a thing of the past as data is automatically uploaded. Data quality assurance is already built into the app. This means that all incoming data is checked against master data. Deviations in the data are immediately visualized in a dashboard.

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Benefits of Tax Reporting with Anaplan

The Tax Reporting App enables companies to report tax information effectively easily. Because you can integrate the app with current performance management applications, you can collect reliable data from across the organization.

The app has over 100 planning apps available that are easy to implement. It is also possible for those who want to customize a planning app to build their own apps. Other advantages of Business Tax Reporting with Anaplan are:

  • Complete and up-to-date documentation of tax positions;
  • Greater insight and transparency into tax data;
  • Effective reports and clear dashboards;
  • Acceleration and simplification of tax processes through process optimization.

Tax Reporting in the cloud

Increasingly, organizations are seeing a strong need for accurate data that is available to the entire organization. The Tax Reporting App is fully functional in the cloud and has a simple interface, where information is accessible anytime and anywhere. For example, the Tax department has access to the same figures as the Finance department.

Flexible reporting solutions

In addition to Corporate Tax Reporting, Anaplan offers reporting solutions for DAC6 and Transfer Pricing.

DAC6

Anaplan supports organizations with the Mandatory Disclosure Rules (MDR), also known as DAC6. It creates more transparency by requiring companies and tax service providers to report cross-border structures.

Transfer Pricing Documentation

Does your company operate in different countries? Then transfer pricing is mandatory and you must meet the legal requirements for this. Anaplan provides transfer pricing processes by offering an integrated platform where data is linked and provides easily available reports.

Tax Reporting
Tax Anaplan

Tax Reporting in practice

W.P. Carey

Automated tax reporting at W.P. Carey

Finext & Anaplan

Anaplan’s complete platform is a flexible planning solution and connects data, people and plans within an organization. Finext is an Anaplan partner and has implemented over 40 Anaplan applications in various industries. Committed Anaplan consultants are focused on the financial services industry. Want to know more about Anaplan? We regularly organize trainingswebinars and knowledge sessions.

Want to know more about Tax Reporting with Anaplan?

Are you wondering what Anaplan’s flexible reporting tool can do for your organization? Schedule a 30-minute demo with one of our Anaplan consultants! During this session, we will show you how Tax Reporting can be used to optimize your daily operations. You can also indicate which components you would like to know more about.

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