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Tax Management Consulting for a Global Medical Devices Manufacturer

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Abstract

The client needed help in adopting Section 404 of the Sarbanes-Oxley Act as well as internal controls testing. Also, the company was in the midst of a multi-billion dollar acquisition and required additional tax resources to support the transaction. As a U.S.-based global manufacturer, the company also wanted to understand its eligibility for the complex Section 199 deduction.

The Challenge

The client needed help in adopting Section 404 of the Sarbanes-Oxley Act as well as internal controls testing. Also, the company was in the midst of a multi-billion dollar acquisition and required additional tax resources to support the transaction. As a U.S.-based global manufacturer, the company also wanted to understand its eligibility for the complex Section 199 deduction.

How We Helped

The company selected Deloitte due in large part to the multidisciplinary team assembled to serve its various requirements from support for Sarbanes-Oxley Section 404 tax internal controls to tax cosourcing, Section 199 and a financial systems technology refresh.

Solution

The combined experience of Deloitte professionals across Deloitte Tax LLP and Deloitte Consulting LLP and the teams' knowledge of the company's tax technology offered the client a cohesive approach to addressing its urgent tax challenges.

In addition to handling the company's Sarbanes-Oxley needs with respect to tax internal controls, Deloitte provided hands-on support for the tax issues raised in the large acquisition, as well as concerns surrounding:

  • Accounting methods
  • Expatriate assignments
  • Domestic manufacturing
  • Research and development tax deductions
  • Earnings and profits studies
  • Technology updates

Over time, work on these and other projects has positioned Deloitte as a nimble and responsive resource not only for the company's tax needs but for a range of business requirements. By fielding an 'A' team across multiple disciplines with the company, Deloitte has demonstrated the ability to support an expansive cross-section of business needs.

Lessons Learned

The Deloitte team helped the client realize tangible benefits, including:

  • Timely filing of tax returns following a major acquisition
  • Significant Section 199 and other tax deductions, allowing the company to manage funds for additional research and development
  • A smooth transfer of tax intellectual knowledge between the company and its acquisition target

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