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Smart Tax Suite - Utilising technology to manage workflow, data collection and operational risk management

Smart Tax Suite is an easy to use technology solution for Tax and Finance teams, supporting the integrated global management of:

  • Tax & Finance processes;
  • documents and information gathering; and
  • operational risk.

It enables teams to manage compliance and regulatory reporting obligations in an increasingly complex environment, by providing technology enabled operational efficiencies, improved visibility, and control.

Visibility and control becomes increasingly important when you look at how the tax environment is changing:

  • Tax and regulatory requirements are continuing to develop and change at a global (OECD) and jurisdictional level.
  • Tax authorities are increasingly introducing regulations that make taxpayers responsible for developing governance, robust process and detecting risk.
  • Businesses are looking to support virtual/remote working conditions whilst also under pressure to reduce costs and demonstrate how back office functions add value.

Smart Tax Suite has been designed with these challenges in mind. Supporting organisations in delivering and demonstrating (to tax authorities and other stakeholders) that Tax has effective governance, process and risk management in place across Tax & Finance processes.

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Smart Tax Suite

PwC’s Smart Tax Suite is an intuitive technology solution for the global management of process workflows, documents and information gathering alongside operational risk management.

View Transcript

Smart Collaboration

Functionality

  • Process management for both tax and non tax processes
  • Track global compliance responsibilities
  • Real time status monitoring
  • Centralised global document library
  • Powerful and flexible reporting
  • Intelligent automated notifications and alerts
  • Self administration of the system
  • Quick to implement and build out
  • Access for internal and third party users

Typical Use Cases

  • Corporation Tax compliance
  • VAT/GST compliance
  • Tax payments
  • Statutory financial statements
  • Payroll
  • Operational Taxes    

Smart Survey

Functionality

  • Structured data collection tool
  • Option to integrate into a workflow process within Collaboration
  • Enhanced quality of data and centralised access
  • Exportable to MS Excel and other data analytics visualisation tools

Typical Use Cases

  • Tax governance attestation
  • CbCR data
  • CFC rules
  • Total Tax Contribution data
  • EU MDR transactions
  • Tax Audits

Smart Operational Risk Management

Functionality

  • Multi Tax Risk and Control framework
  • Integrated into tax workflow
  • Ability to sign off controls alongside tax processes
  • Produces management reporting information and visualisations
  • Document upload and evidencing capability.

Typical Use Cases

  • Senior Accounting Officer (UK)
  • Corporate Criminal Offences (UK)
  • Tax Compliance Management System (Germany)
  • Responsible Officer obligations for FATCA/QI (global)

Case Studies

Fast Moving Consumer Goods Multinational

“A global FMCG organisation has significantly improved efficiency and coordination across 70+ countries with Smart Tax Suite. This led to an estimated 40% time saving relating to the management of Tax. The platform delivers real time oversight of processes across Corporation Tax, Indirect Tax and Transfer Pricing, with enhanced collaboration between Tax, Finance and other stakeholders. Additional use cases include streamlined gathering of information for Total Tax Contribution and governance purposes, with a clear audit trail across all use cases supporting tax governance and monitoring by Internal Audit.”

Multinational Asset Manager

“An international Asset Manager implemented Smart Tax Suite to manage workflow and track deadlines in 15+ countries, across Corporation Tax, VAT, Transfer Pricing and Operational Taxes. This is combined with the gathering of annual local country KPIs and Tax policy attestations. The organisation has achieved greater visibility and control and is better placed to deliver timely compliance and high quality management information for internal reporting. The centralised real time dashboard tracks processes involving multiple providers, providing clear oversight and a reduction of over 50% of the time spent managing these providers.”

Book a discovery session

If you would like to arrange a meeting to receive a demonstration of Smart Tax Suite and discuss how it can help you to drive strategic operational improvement in your tax function, please complete the form below and we’ll be in touch as soon as possible.

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Contact us

Robert Gooding

Robert Gooding

Partner, PwC United Kingdom

Tel: +44 (0)7815 643891

Richard Anderson

Richard Anderson

Tax Reporting & Strategy, PwC United Kingdom

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