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Tax Management Consulting for a Global Payments Company

Abstract

A global payments company wanted to improve its understanding and management of tax filing obligations across the world. It selected Deloitte’s Tax Management Consulting (TMC) group to assist with adoption of a global tax data management software solution and processes, as well as improving efficiency by standardizing document management, data collection, and workflow practices across the world.

The Challenge

Due to lack of a global tax calendar, standardized processes, and document management capabilities, the global payments company had limited access to tax information in the 63 countries in which it operates. As a result, the company did not have an inventory of tax filing obligations across the world, nor did it have insight into the status of fulfilling its filing obligations in each country. In addition, the company collected data using Microsoft Excel spreadsheets and emails — a process that required extensive manual effort and carried a high risk of error. The company attempted to develop a data management solution internally but was not satisfied with the results.

How We Helped

After analyzing current processes in place in each country, Deloitte’s TMC team advised the company on its design and implementation of new standardized, global data management processes for indirect taxes, income taxes, statutory reporting, and tax provision processes. In addition, our team provided considerations for updating certain processes related to transfer pricing and employment taxes, as well as the company’s tax data governance model.

As a foundation for the new processes, we assisted in the creation of a central calendar of tax filing requirements in each country and then advised the company on the design and implementation of document management and workflow processes (for example, sign offs) for these areas. We helped to create a master set of entity data from which each process now works — previously each of the company’s tax processes maintained their own versions of entity data. For some areas, we also advised on new data collection processes that web-enabled data collection and stored data automatically to a central database.

The client already used a tax data management technology solution, but it had not been well adopted in many areas or countries — some areas or countries used a majority of its capabilities and some had implemented their own solutions. Our work included advice on re-introducing the software in conjunction with the new processes to automate certain activities and remove manual steps and spreadsheets previously used to gather, consolidate, and input data into company systems.

Why Deloitte? The client selected Deloitte’s TMC team due to our experience with global tax data management solutions. In addition, the company valued our objective analysis of its current approach and technology and how we could make its existing capabilities better, as well as our willingness to understand the company’s and users’ needs rather than coming to the table with a preconceived solution.

Solution

As the company moves from implementation to adoption of the new global tax data management processes, it already has realized several short-term benefits. It now has a broad inventory of tax filing obligations for each country in which it operates and for each type of tax. Tax leaders also have new insight into the status of their tax obligations — insight that they did not have previously. In addition, by standardizing and automating document management and data collection processes, the company expects greater benefits in the form of increased efficiency, reduced risk of data errors, and greater value from its technology investment.

To learn more about Deloitte’s approach to document and workflow management, contact your Deloitte adviser or email us at tmc@deloitte.com. For additional resources, visit www.deloitte.com/us/movetaxforward.

As used in this document, “Deloitte” means Deloitte Tax LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

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