In the interviews below with WorldFinance.com, members of the Vertex Chief Tax Office discuss various issues related to the new country-by-country reporting. And provide insight for MNC tax departments as they deal with the reporting requirements and related challenges.
Watch the videos below. Submit the form if you’d like to speak to a Vertex representative about a CbCR technology solution.
Future-Proofing Your Tax Processes for CbCR
Nancy Manzano, CPA, MS Tax, from the Vertex Chief Tax Office discusses the inherent issues around the collection, conversion, and aggregation of data by-country and by-legal-entity. She also provides considerations for future-proofing your business when it comes to CbCR – from an in-depth look at financial technology systems, to data accessibility and controls, to workflow and process review.
CbCR: Managing Your Tax Reputation Risk
Bernadette Pinamont, CPA, JD, and Nancy Manzano, CPA, MS Tax, from the Vertex Chief Tax Office discuss BEPS Action 13 which will make MNCs’ transfer pricing arrangements more transparent to taxing authorities. They explore the growing concern that the information in the CbC Report may also be released to the public, which will only increase the kind of “tax-shaming” already seen in the global media. Watch the video to understand the new level of agility and data management technology that MNC tax departments will need in this new age of transparency.
CbCR: Is Your Business Ready?
Vertex Chief Tax Officer Bernadette Pinamont, CPA, JD reviews the new CbCR requirements and discusses the different ways that individual countries are adopting them. Pinamont also discusses the potential audit environment that CbCR will create, and the need for MNCs to reconcile their CbCR information back to other financial statements.