1. / A Multinational Tech Company Creates a Single Repository for its Global Tax Needs
Overview

Global tax reporting is a complex process that involves functions beyond just accounting – enterprises must regard global tax reporting as a critical component of achieving business growth. The customer wanted to integrate all the teams under its ambit that deal with indirect tax reporting across its worldwide offices since global tax auditors need combined reports for filing returns.

Problem

An initial assessment of the customer’s situation revealed a number of hurdles.

  • Lack of a consolidated tax repository for compliance & audit 
  • Lack of automated extracts into central tax compliance package
  • Inconsistencies stemming from timing errors and aggregation rules 
  • Manual tax adjustments while filing leading to penalties
  • Lack of scalability
Solution

Apexon devised a solution to create a tax hub data repository using an Informatica ETL Data pipeline and PowerBI to:

  • Integrate 26 different source systems into a single tax repository to cater to global tax reporting needs
  • Develop cubes, dashboards, and self-service reports 
  • Deliver reports on KPIs related to vendors, customers, VAT rates, VAT registration levels, VAT positions, inter-company goods/services movement
Impact

The tax repository solution offers the customer a range of benefits.

  • Comprehensive tax insights, trend, and opportunities to enable tax teams to fill tax returns, as well as ‘payments receivable’ and ‘payments paid’ information
  • A simple, easy-to-use self-service option 
  • It helps reviewers see exceptions in VAT report and irregular VAT amounts

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