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.
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.
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.
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.
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.
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.
In addition to Corporate Tax Reporting, Anaplan offers reporting solutions for DAC6 and Transfer Pricing.
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.
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 trainings, webinars and knowledge sessions.
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.
Tool selection gives VodafoneZiggo flying start implementation
Selecting a suitable Performance Management (EPM) solution is not easy – that’s why VodafoneZiggo used a thorough selection process. Applying use cases and involving the users during the entire se...
Planning in PowerBI: Finext extends Planning and Analytics portfolio with partnership Acterys!
Overcome the 5 challenges for a valuable FP&A process
A well-established FP&A process is critical to effectively running a business. Yet, many financials run into challenges that prevent them from getting optimal value from their FP&A processes. ...
Management Reporting with Vena
With Management Reporting from Vena, your organization will gain specific insights that you can use to make profit-enhancing decisions....