Indirect Tax Management

KPMG and Thomson Reuters Indirect Tax Management: Reducing Tax Risks and Costs

Businesses around the world are required to accurately identify, calculate, and report sales tax, value-added tax (VAT), or goods and services tax (GST) on all sales transactions. With rates that can rise to 25 percent or more, businesses often struggle to manage indirect tax requirements. What’s more, most Enterprise Resource Planning (ERP) systems do not deliver the necessary indirect tax functionality out of the box required to stay up-to-date with ever-changing tax rules and regulations. To meet these challenges, many organizations turn to an automated “tax engine” for their indirect tax compliance function—and a trusted adviser who can help implement it.

KPMG LLP’s Indirect Tax practice coupled with Thomson Reuters ONESOURCE Indirect Tax technology provide a leading combination of software The KPMG advantage and services that can help companies meet their tax • Our team members have worked on some of performance and scalability requirements. Working the largest and most complex global indirect tax with ONESOURCE, KPMG can help companies deployments. thoroughly manage their global indirect tax compliance • KPMG is among the vanguard of understanding the requirements and reliably report these taxes as they do issues and trends in your industry, and providing business in North America, Europe, Latin America, and timely advice to help you adapt to changes that Asia Pacific. impact your business. KPMG’s tax technology resources – providing • Our U.S. indirect tax and VAT practice in member incisive insights and leading practices firms around the world will be at the forefront of your With this strong combination of both tax and deployment. technology knowledge, KPMG can help enable your • Our team members assisted with the first global company to clearly report sales tax, use tax and VAT, deployments of the ONESOURCE Indirect Tax identify and manage risks, and add value and efficiency solution nearly a decade ago, and we continue to to your indirect tax processing. The KPMG indirect advance the limits of indirect tax technology to tax team enables clients to bridge the gap between enhance the capabilities of ONESOURCE and our tax internal tax and information systems groups and the transaction services. tax departments they support, accelerating the time it takes to identify and deploy the right automated global • Our KPMG indirect tax team members are trained, tax solutions and processes in network member firms tested, and certified as specialist implementers of to support them. ONESOURCE Indirect Tax technology.

Indirect Tax Management The ONESOURCE Tax Engine Tax technology is not a one-size-fits-all proposition. ONESOURCE Indirect Tax technology by KPMG’s Indirect Tax professionals can help Thomson Reuters integrates with existing ERP system you adapt ONESOURCE indirect tax to fit your or backend financial applications. Transaction data and business objectives. attributes flow to ONESOURCE, and ONESOURCE uses that data to make consistent and repeatable Potential Benefits tax determinations. By consistently applying tax policies to business transactions, ONESOURCE can KPMG’s services, coupled with Thomson deliver consistent and reliable indirect tax processing, Reuters ONESOURCE Indirect Tax technology including archiving and audits, while reducing enable clients to achieve sharper insights and maintenance costs. ONESOURCE Indirect Tax real-time visibility into global VAT, GST, sales technology helps you: and use tax information. Our established team with extensive hands-on experience helps Automate the determination of tax organizations fully leverage the tax value of the • Real time determination of the transaction type, tax data to: tax type, jurisdiction, etc. • Proactively plan and manage indirect • Make determinations based on consistent rules tax strategies and policy • Provide rapid, robust, repeatable, and scalable • Reduce exposure to audits and mitigate tax decisions potential revenue loss Automate the calculation of tax • Accurately identify and capture tax revenues • Make real-time determinations of rates, rules, and • Reduce risk of indirect tax fraud tax basis • Improve compliance with complex and ever- • Make decisions based on consistent and externally changing tax requirements and rules maintained content • Reduce costs of tax compliance through • Provide support and content for required quicker, more accurate tax processing invoice messaging • Reduce reliance on information technology (IT) Facilitate the reporting of tax support for system changes and updates • Facilitate the preparation of returns, invoices, and supplementary statistical filings • Enhance business controls and reporting • Provide better tax audit support and simplified compliance processes • Provide the ability to use a single audit database to drive compliance Not permissible for KPMG audit clients and their affiliates.

For more information, please contact:

Stephen James Principal Indirect Tax Inquiries T: 408-367-2800 E: [email protected]

Lisa Indovino Alliance Director Alliance-Related Inquiries T: 973-912-6465 E: [email protected]

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