Tax transformation

The challenge

Technology is driving tax transformations in financial services organisations in two ways:

  1. Competitive and regulatory pressures are creating the need for virtual teams enabled by technology. Tax administrators are also focusing on real time information and conducting more aggressive audits due to better information being available.
  2. Demands from internal and external stakeholders are driving a need for better use of resources and better collaboration as well as a frequent need for information is driving requirements for tax-sensitised data, compliance and provision integration.

In reacting to these technology trends, tax departments are using automated workflows, centralising their data (‘golden source’), developing data and technology strategies and preparing their Enterprise Resource Planning (ERP) system to respond to regulatory and compliance requirements. Active involvement of tax in transformation projects is increasingly enabling firms to streamline and capture tax-ready information more efficiently.

The right solutions and capability will enable organisations to:

  • perform value added activities e.g. risk identification and mitigation, proactive planning for audits globally;
  • provide business insight; and
  • manage compliance and control more effectively and efficiently.

Our services

We help clients to build and transform their tax function to operate in a dynamic and digital world. This involves helping clients to streamline and automate their existing processes by delivering technology solutions to achieve greater efficiencies, transparency and add value to the business.

We provide a range of services from strategy through to implementation as follows:

End to end VAT automation

End to end VAT automation and optimisation including compliance with HMRC Making Tax Digital for VAT with PwC’s GITC solution.

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Tax data management and transformation

Tax data management and analytics including data quality reviews and real time tax attribute monitoring using PwC Data Ignition, and data enrichment and transformation for tax using PwC Enlighten.

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Tax reporting evaluation and solutions

Tax reporting solution evaluation and implementation, including workflow and collaboration solutions, and end to end operational transfer pricing solutions.

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Core platform readiness reviews

Core platform tax readiness reviews and remediation, including Oracle HRM, Thomson Reuters, Wolters Kluwer, Longview and Workday.

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Our alliances

Explore how else we can help you with business-led technology transformation

Accelerate digital transformation in financial services

Services

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Navigate risk and regulation in financial services

Services

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Contact us

Justin La Hood

Partner & Global Financial Services Tax Technology Leader, PwC United Kingdom

Tel: +44 (0)7808 035 620

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