- Advanced data management solution to streamline CbC compliance for global tax departments
- Collect, harmonize, and transform worldwide business unit data to country-level data
- Reconcile data to all necessary financial statements and returns
- Retain full audit trail
With Vertex Country-by-Country Reporting, you can collect, reconcile, and report financial and non-financial data in the format required for the CbCR template in a consistent manner across multiple country filing requirements. The solution not only generates the CbC Report, but the solution also establishes a repeatable processes, governance, and control over CbCR data.
- Connect directly to source ERP and consolidation systems to collect financial account data
- Generic flat file and spreadsheet interfaces enable data import from other sources
- Convert worldwide business unit financial data to legal entity book income
- Tools to unify differences in accounting methods (i.e., IFRS, US GAAP, or local stat) and currencies, and then summarize and allocate by country
- Easily reconcile the CbC Report to local statutory statements, worldwide audited statements, legal entity books, local tax returns, transfer pricing documentation, and local international reporting such as U.S. Form 5471s
- Retention of all corporate tax data with an auditable trail of data transformations back to the source.
- Improve efficiency by spending less time manipulating data
- Mitigate risk through improved visibility and reporting
- Improve governance and control over global tax data
- Become less IT-dependent for tax reporting
- Ensure audit readiness with data drill-back functionality