Just Eat Takeaway.com is a fast-growing, leading global online food delivery marketplace. Automating its tax processes saves time, improves control, and creates transparency.
On 1 June 2022 Taxvibes invited tax experts from a wide range of multinationals to participate in a round table meeting on Pillar Two in The Hague. In this article the key takeaways of the meeting are presented.
Royal Cosun is a cooperative of beet growers originating in the Netherlands but active worldwide. The organization reports under Dutch GAAP and communicates the preliminary yearly results before the audit. Implementing the tax provisioning template in OneStream makes the tax processes faster, more reliable, and more efficient for everyone involved.
Vanderlande is the global market leader for logistic process automation at airports, for warehousing and in the parcel market. The company aimed to improve efficiency and save time. Implementing Longview Tax automated 70% of the automated tax processes, leading to a 25-50% reduction in time spent on corporate income tax reporting and a more robust tax reporting process.
Starting 1 January 2023 multinationals are required to make all new calculations for Pillar 2. This ambitious timeline for implementation combined with new complex calculations require companies to take quick action. We developed a Pillar 2 model to make the calculations and assess the impact of the new rules.
Recently a proposal for public Country-by-Country Reporting (CbCR) has been endorsed by EU institutions opening the way for formal approval by the European Parliament.
The process of tax provisioning causes peaks each reporting period. The internal process of retrieving and evaluating all relevant data for the tax closing process makes this workload even heavier. Fortunately, a new Tax Provisioning Template for OneStream XF can make your entire tax process more effective.
More and more companies are starting to automate their tax processes. Not surprisingly, as tax automation makes your tax accounting faster, easier and more reliable. And the good news is that you can now use your OneStream XF platform for your end-to-end tax reporting. Tax expert Bas van Eijk and OneStream consultant Jorrit Jan Boonstra explain how to move your tax processes from Excel to OneStream XF. Which benefits will this move give you? And what will it look like?
Governments around the globe demand more transparency and information from multinational companies, increasing the risk of controversy. Country-by-country reporting requires a robust collection of relevant data in a consistent format across the international group. The reality is that companies battle with diverse ERP systems, data formats, and collecting structured and unstructured data.
Tax provisioning is a highly complex area that is in both the tax and the accounting domain. Within many Finance departments tax is often conceived as slowing down the close cycle as a whole. The new rules on uncertain tax provisions (IFRIC 23) can add to the complexity. In our webinar we have shown how these changes might affect your tax position.