Tax disruption and international trade: A whitepaper on customs technology
We explore the digital transformation in customs, a tax administration area undergoing a major shift.
Following the release of SAP S/4 HANA in 2015, many of you will already have started on the transition. The focus is typically on finance. But have you considered other angles?
- Have you thought about the role of tax in this transformation?
- How will you manage tax matters in an S/4 HANA environment?
- What additional tools might be necessary to support end-to-end tax functions?
Tax departments these days face many challenges that entail excessive costs and compliance risks as well as tying up valuable resources. These challenges include meeting regulatory and legal requirements such as e-invoicing and BEPS 2.0, grappling with inefficient processes such as the absence of a tax code concept or improperly implemented operational transfer pricing concepts, and navigating unpredictable cash outflows. The more closely aligned your tax and finance functions are within your ERP solution, the easier it is to manage these challenges efficiently and effectively.
Simplify tax integration with SAP S/4 HANA
We at PwC aim to make your journey to SAP S/4 HANA smoother, especially when it comes to aligning your finance and tax teams. We offer a comprehensive two-phase transformation plan, ensuring that tax functions are seamlessly integrated from the outset to prevent unexpected costs down the line and enable you to capitalise on a number of potential opportunities:
Real-time data integration: We’ll help you merge data across finance functions, guaranteeing precise tax calculations.
Automated processes: Say goodbye to manual errors with streamlined finance operations for accurate tax assessments.
Advanced analytics: Gain valuable insights to refine your tax strategies and predict future obligations.
Standardised reporting: Ensure consistency and accuracy in tax filings with our easy-to-use templates.
Regulatory compliance: Stay ahead of changing tax laws and regulations, adapting with ease.
Centralised data management: Efficiently manage all your financial and tax data from a single source.
Our tax focus areas in SAP S/4 HANA
Incorporating tax functions during the preparatory stage of your S/4 HANA transformation is a distinct chance for you to significantly reduce excessive costs and risks. Take care of the following early on and you can use the money you save to finance transformation.
- Tax planning: Integrated planning
- Indirect taxes: Set-up in SAP, controls, e-invoicing, Global Trade Services
- Direct taxes: BEPS 2.0/Pillar II, Withholding Tax, Corporate Income Tax
- Transfer pricing: Solution design and implementation, decoupling legal and managerial view
- Tax reporting and accounting: Design and implement multiledger concepts for tax
With SAP’s tailored solutions for each tax domain, complementing S/4 HANA, you’ll have everything you need to future-proof your finance and tax departments.
- SAP Analytics Cloud
- SAP Tax Compliance
- SAP Document and Reporting Compliance
- SAP Profitability and Performance Management
- SAP Corporate Income Tax Framework
Prepare your organisation for the future
Partner with us as your SAP implementation ally throughout the S/4 HANA transformation journey. Together, we’ll craft a bespoke SAP tax management solution, integrating finance and tax seamlessly.
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