Global Compliance & Transformation

Unprecedented economic challenges have forced companies to rethink the way they do business. Tax is no exception: fulfilling your duties as a taxpayer in today’s highly complex environment is no easy task. Rapid globalization, developments in local tax laws and new global compliance reporting requirements such as BEPS Pillar 2: and all this is increasing the burden on tax and finance departments.

At the same time, digital transformation and innovation are triggering new business models as enterprises and their tax and finance functions embrace AI-powered, data-driven solutions.

Christoph Funke

Director, Head of Global Compliance & Transformation

KPMG Switzerland

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How can we help

Your tax function is expected to report more and do more to remain compliant, with less resources.

We respond to this challenge and seek ways to reduce costs, mitigate risks, improve quality and drive more strategic value across your organization. We call our holistic, technology-enabled approach Tax Reimagined.

Bringing together technology, transformation and compliance capabilities under this new framework, we help organizations accelerate efforts to develop and implement a customized target operating model for their tax and finance functions.

Tax Reimagined is about optimizing your tax function across the critical areas of strategy, performance, sourcing and operations.

Your benefits

Tax Reimagined is designed to help you reimagine your tax function for the digital age. We'll guide you through every step of the process, from identifying opportunities for improvement to implementing new technologies and processes. Together, we’ll develop a clear roadmap towards your target future state, offering you:

Clarity on costs and budget
Improved quality of tax data
Comfort over tax controls
Assurance that all tax liabilities are handled on time

Through increased governance and visibility over tax, you minimize and manage potential fiscal and reputational risks. And with roles and responsibilities clearly defined, you’ll enjoy better relationships with the business and better outcomes for your entire organization.

Tax Reimagined Framework

Strategy

The ideal tax operating model for your tax function depends on the particular needs of your organization, including your risks, overall business model and any transformation initiatives – there is no one-size-fits-all model. We help you deliver on your strategic ambitions through:

Discovery workshops to build your tax roadmap for the future
Tax maturity assessment to identify gaps and opportunities for improvement
Support in developing your target operating model concept
Review of your tax strategy, including tax governance, resulting in bespoke recommendations and observations

Sourcing

Tax teams are constantly challenged to do more with less. With resources under pressure, sourcing can be a key success factor. Working with the right external partners for the right tasks can help you reduce your global tax compliance costs, improve transparency and reduce risks. We help you get the most from your sourcing model through:

Development of your target operating model, considering where to invest in outsourcing, co-sourcing or in-house solutions
Global compliance management services across:
- Direct taxes such as corporate income tax or withholding tax
- Indirect taxes such as VAT
- Transfer pricing
- Tax reporting
- Statutory financial statements, bookkeeping and payroll
- Company secretarial services
- Tax audits

Operations

There’s scope to improve your operations at every stage of the tax cycle, whether that’s when you file tax returns or submit year-end tax reports. Documenting the tax function’s business processes and controls is an important task and one that is increasingly supported by digital technologies. Ask us about:

Documentation options for tax processes and controls
Vendor selection and implementation of tax technology (e.g. compliance management system or tax control framework)
Workload assessments to identify potential for improvement
Tax maturity assessment to see where you stand and where you want to be
Digitalization of direct and indirect tax processes
Implementation of a tax governance model

Performance

The performance of your tax function directly impacts your enterprise-wide results. A balanced scorecard approach to KPI management will boost the quality, accuracy and efficiency of information and data. It means your tax team and the C-suite can make better-informed decisions, collaborate effectively with internal clients and communicate transparently with stakeholders such as tax authorities. We provide services such as:

Development of a stakeholder communications concept
Creation of a KPI concept and framework
Benchmarking to help you understand how your function stacks up against your peers