What is it all about?
Country by country reporting

Be in control of the entire process – from collection to XML filing

What is it all about

With a large number of entities in many countries it is difficult to be in control of changes to the entity structure and changes in business activities. Furthermore, it is necessary to collect not only the mandatory figures required by the OECD, but you also need to collect additional figures. The additional figures are needed to ensure that you have data that can explain risks which might be identified by the tax authorities from only analyzing the OECD mandatory figures. In addition, you need an analysis tool that allows you to perform the same screening as the tax authorities will do, based on the OECD handbook on effective tax risk assessment.

Read more about definitions: Country by Country figures – what are the definitions?

Article: Challenges when creating the OECD XML schema for CbC reporting

How you do it

Our approach

1

Setup

Decide thresholds and KPI’s for analysis

Decide what data should be collected

Establish a process for collecting data and configure the the solution (who, when and how?)

2

Collection

Automatic update of changes in entity list and entity data (including Business Activities)

Automatic collection of relevant data for a new period, e.g. directly from a group accounting system

3

Validation

Automatic validation that data is complete and accurate

Reports that support manual review of reported data

Automatic comparison with historical data

4

Analyze

Automatic controls against established parameters

Analysis of OECD screening points presented in relevant reports

Interpretation of the analysis and preparation of risk report

Read more: How to manage and analyse your Country by Country data

5

XML filing

Inclusion of explainations in Table 3 based on the analysis

Automatic creation of XML-file for relevant jurisdictions

Read more: Country by Country reporting – what to consider ahead of the 2019 filing and beyond

 

 

Quality

Quality of data is of great importance. Our solution has many in-built functions to increase quality and ensure that you are in control of the entire process. Furthermore, data can be collected at the source which secures the accuracy of the input.

 

Flexibility

Our solution is for everyone! With a flexible solution you can adapt to the needs of different organizations. The modular approach together with configuration and customization possibilities allows you to get a solution that is relevant for you.

 

User friendly

A good user experience is key in our solution. We help both editors and process owners by providing simple and clear processes and functions to minimize administration. Our interface is simple to use and the same structure is recurring throughout all modules.

 

Cost efficient

As everyone has been assigned with roles and responsibilities with tasks to perform, your organization will save a lot of time by automating the data collection process. The collected data is always up to date which avoids work being done twice.

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