Nowadays, globally operating firms are more and more often subject to substantial audits by regulatory authorities such that greater care needs to be taken in relation to the supervision of tax relevant processes. Companies have to meet these increasing demands and outsourcing or co-outsourcing can make a significant contribution to freeing-up capacities for tax planning and business support.
In summary, KPMG's Global Compliance Management Services takes responsibility for the external supervision of all tax relevant business processes applying uniform standards, particularly in relation to compliance. The main focus is on the following core activities:
- Timely and accurate preparation of tax returns
- Tax compliance in relation to current and deferred taxes taking into consideration national and international standards and corporate governance aspects
- Central point of contact who coordinates KPMG compliance teams worldwide
- On-going possibility to obtain an overview of the current process status of tax relevant topics of all involved group companies worldwide
Technological advantage: Global Tax Management System (GTMS)
GTMS, a protected and web-based application, was developed in order to improve the transparency and control of global tax compliance. It can be accessed 24-7 and improves worldwide coordination as well as registering the current project status in real time - including detailed workplans. GTMS is sufficiently flexible to allow for a large number of workstreams and can be tailored according to your individual needs.