Tax Record Retention Advisory Services
Tax departments face numerous record retention requirements, which emanate from almost every tax jurisdiction. The risks associated with noncompliance are considerable, including loss of tax deductions due to insufficient supporting records and civil penalties for inaccuracies.
For many large companies, a high-performing enterprise-wide resource planning (ERP) system is key to accurate and timely filings as well as subsequent tax audit defense. However, the massive amount of data captured by ERP systems can degrade system performance and limit available disk space, even within a short period following implementation.
The professionals of Deloitte’s Tax Controversy Services and Tax Management Consulting groups employ an integrated methodology that can help your tax department design and implement a tax record retention approach to address your company’s specific needs and enhance the value of your ERP system to the tax department.
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