• Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 10/9/2013

Australia - Effective use of technology to manage tax risk 

October 9: Given the continuing pressure on businesses to reduce costs and for tax authorities to boost revenue, taxpayers’ efficient management of tax reporting and compliance obligations requires an effective use of technology.

There is an extensive suite of finance systems and tax compliance applications available, which if used correctly, can significantly improve processes, reduce costs, and contribute to the effective management of tax risk.

Key technology considerations include:

  • Providing that finance systems are properly tax sensitised to provide standardised tax calculations and reporting functionality
  • Putting in place the right tools to provide all management information needed over tax filings, tax payments, and tax risks
  • Delivering cost and resource savings by reducing the time spent on consolidating, analyzing, and reporting through the use of automation
  • Identifying any weaknesses in business and tax processes and putting in place data analysis tools to act as compensating controls

Read an October 2013 report prepared by the KPMG member firm in Australia: Technology enables process improvement

©2014 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

The KPMG logo and name are trademarks of KPMG International.

KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.

The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

Direct comments, including requests for subscriptions, to
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.


Share this

Share this


Subscribe to receive the latest TaxNewsFlash email alerts (you must select the option for TaxNewsFlash)

Already a Subscriber? Login

Not a member? Subscribe now