Indirect taxes can be daunting for companies of all sizes. And they can become even more challenging when doing business across multiple jurisdictions or when facing changing regulations. Proper compliance and accuracy is vital to avoid assessments and overpayment risk.
Companies may have limited tax and IT resources to manage these increasingly complex calculations and changing reporting obligations, both domestic and foreign. Additionally, this complexity can often obscure leadership's visibility into indirect tax data.
Here's where KPMG's OnDemand Indirect Tax Service can help companies meet these challenging demands.
OnDemand Indirect Tax Service is a managed service that can help companies build their tax technologies from the ground up or support existing tax and systems resources. It tailors people, processes, and technology to enable effective tax profile management, while mitigating risk through comprehensive review, edit, and documentation of tax policies and processes. OnDemand Indirect Tax Service can benefit companies in all stages of tax engine ownership including assisting with tax-engine vendor selection, providing a software license, or supporting existing tax engines.
Potential benefits for your company
KPMG's OnDemand Indirect Tax Service will support companies' existing tax and systems resources or build new tax technology systems to provide:
- Clear and direct access to data for compliance and analytical needs (return preparation, audit defense, key performance indicators, and trend analysis)
- An agile support infrastructure that enhances ability to quickly adapt to business changes
- Risk mitigation achieved through documented, consistent application of tax policies
- Readily available, knowledgeable IT and tax resources to support the indirect tax function
- Robust and efficient global tax calculations and reporting to meet tax obligations.
The KPMG team
Our team is experience not only in indirect tax but also in technology. We manage the process in it's entirety, leaving the company able to concentrate on more strategic initiatives. And we continue to provide support beyond the implementation of a tax system, including 24 x 7, 365 day-a-year customer support. Our tax technology professionals can:
- Assist with integrating the tax calculations software into your company's source system(s)
- Advise your teams on tax matters and best practices
- Configure the software to meet business and tax requirements
- Provide attentive testing support
- Deliver thorough documentation of your tax policies and related software configurations.