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
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.
Legal entity management
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What kind of head office data do you need – and how do you collect it in an efficient way? Together we will dive into your data to see how it can be structured in new ways.