Tax Reporting & Strategy...

... more than Finance & Accounting

The tax landscape is constantly changing. Regulatory requirements are increasing, business and finance transformation is commonplace, and tax authorities and boards are demanding that tax risks are effectively managed. In this fast changing world, we’re helping clients build a sustainable tax and accounting strategy for the future. Our complete approach to tax management and accounting brings together function design, technology and compliance delivery to help you understand and meet these challenges head-on.

The presentation of financial data in today’s digital age has never been more prevalent. With the growing demand for greater accountability and transparency, the shift towards digital, real time reporting is now business critical. With organizations facing ever-increasing volumes of data, pressure to drive efficiencies and streamline processes, there is an expectation to take advantage of constantly evolving technologies. The challenge is indeed doing more with less.

Our Tax Reporting & Strategy (TRS) practice helps tax and accounting departments take a closer look at their key assets, including people, processes, data and technology. You’ll see tax and accounting from a new angle so you can redesign, redefine and redeploy it as a strategic asset across the enterprise.

Your trusted business advisor in finance & accounting, human resources administration, compliance and reporting for the future!

How can TRS help you?
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I need to have confidence and certainty over compliance...
I need to have an efficient and effective accounting and tax reporting process...
I need to have a robust and accurate data for the business and tax administrations...
I need to improve and redefine my HR structure and functions...
I need to manage tax risk and implement robust tax governance to increase transparency and trust...
I need to leverage finance transformation for tax...
I need to accelerate the impact of technology in delivering my tax needs...
I do not have analytics to support the accounting and tax function...

I need to have confidence and certainty over compliance...

Many companies are rethinking their approach to domestic and global compliance and reporting by taking a closer look at their technology, processes, resources, and service providers. Leading tax and accounting functions are using co-sourcing/outsourcing as a critical component of tax and accounting function strategy, and as a means to better align its investments and use of talent with organisational goals.

We can work with you to:

deliver the corporate (tax, accounting, transfer pricing, Country by Country reporting, company secretarial, other) compliance requirements for all of your entities, seamlessly and cost-effectively;
review your current global compliance operating model, health-check status, identify transformational opportunities and deliver them.

"Our experience and scalability allows us to customise and adapt our delivery model to align with your broader business goals.”

I need to have an efficient and effective accounting and tax reporting process...

Changes to tax laws, new accounting standards and increased scrutiny of how much tax organisations are paying, means that it is more important than ever that your organisation is confident the tax numbers disclosed in your financial statements are accurate.

Early intervention into areas of complex tax accounting can help reduce last minute financial statement adjustments and discussion time with your auditor.

"We can help you develop fit for purpose and well managed tax accounting processes.”

I need to have a robust and accurate data for the business and tax administrations...

Although data is not a new issue for tax and accounting it’s fast turning into one of the major enablers for future state Tax and Accounting functions. Tforax authorities continue to move ever closer to real time data extraction and e-auditing with new legal requirements coming thick and fast. There has never been a greater need for tax departments to be data literate.

Tax and accounting functions can be timid in their demands of data and many are experiencing an increasing workload as a disproportionate amount of time is being spent on improving base data, rather than value add activities.

Couple that with an increasing need to drive efficiency and cost reduction and it’s no wonder data has found its way onto the list of the top five priorities of the largest organizations.

"We can help you to increase data quality and accessibility.”

I need to improve and redefine my HR structure and functions...

In a scenario of constant change, in which organizations need to be agile, flexible and capable of timely decision-making, it becomes important to create conditions that allow them to focus on the business. In this sense, the human resources solutions that we offer allow the client to outsource support functions that includes payroll processing for national and expatriates employees, preparation and filing of HR compliance reports, employee internet portal. These are some the services that we can offer to help the clients be more efficient on business management.

"We can help you to increase he efficiency of payroll related administrative tasks, while ensuring compliance with local tax and legal framework.”

I need to manage tax risk and implement robust tax governance to increase transparency and trust...

Tax authorities and other stakeholders expect tax and accounting functions to be able to demonstrate, with evidence, that they have operated in an effective and efficient way. They must be able to show, often via a formalised tax control framework and testing programme, that tax risk is mitigated to an acceptable level and tax opportunities have been taken in line with the organisation’s overall attitude to reputational and compliance risk.

Increasingly managing tax is not a purely technical challenge and the skills required also include technology awareness, project management, leadership, and communication with the wider business in a way that they understand.

"We can help you to define and implement processes and controls.”

I need to leverage finance transformation for tax...

Finance transformations represent risk and opportunities for tax functions. Generally there are two types: organisational change and finance system change.

Either of these generic change programmes will impact on the tax function’s ability to continue to remain tax compliant, as inevitably the data, systems and processes which tax rely on to deliver tax compliance and reporting will be impacted.

"We can support tax functions to fully engage with the finance transformation and position itself as a primary customer and active player of the finance transformation programme.”

I need to accelerate the impact of technology in delivering my tax needs...

Technology is driving and enabling change throughout business. Whether through the improvement of data quality or the automation of processes, technology is at the forefront of transforming the tax and accounting function into an efficient business enabler.

The modern tax and accounting function will have a defined technology strategy which will be aligned with related parts of the business. The tax and accounting function can then integrate technology into their overall strategy with a clear roadmap for delivery either by implementing new technology or leveraging existing technology.

"We can support you on this journey to ensure that you’re not left behind.”

I do not have analytics to support the accounting and tax function...

Tax and accounting functions are challenged – as data volume grows and organizations become more complex in both operational scope and geography, tax and accounting functions are challenged to conduct meaningful analysis in spreadsheets.

These processes are now too slow and cannot keep up with the pace of change and increase in data. It’s time to bring in real-time analytics to develop scenarios, trends and other analysis to support the tax and accounting function.

"We can help you to develop and implement your data visualization and analytics and upskill your team.”

We support our clients in the following areas:

Finance & Accounting & Support Services Full or functional outsourcing of administrative and finance functions (finance & accounting outsourcing);
Preparation/conversion of accounts in several reporting formats (IFRS, US GAAP, SNC/Portugal GAAP, SNCRF/Cape Verde GAAP, PGCA/Angola GAAP and other management accounts) and related financial reporting;
Support in specific situations, such as the recovery of accounts, analysis and reconciliation of accounts, preparation of information for ERP migration;
Control, tagging, inventory and asset reconciliation;
Transformation and operation of administrative and finance processes;
Companies’ start-up processes: official processes, implementation of procedures and controls, general ledger setup, working instructions, documentation and management reporting;
Controlling; and
Liaison with regulatory bodies and preparation and submission of compliance obligations (Bank of Portugal, ASF, CMVM, European Banking Authority).

We’re working with our clients addressing the following needs:

We take an integrated, global approach to the delivery of local compliance services, preparing, reviewing and submitting tax returns, ensuring the Certified Accountant role for the Company (“Contabilista Certificado”), whenever needed;
Local country specialist teams form the backbone of our service offering, providing experienced resources to help with the compliance needs today, support in future audits, and practical knowledge of current and emerging regulatory requirements;
Engagement Center – is our web-based portal designed to collaborate with you around the world, including effective exchange of data sources, transparent review of deliverables, and real-time access to status, workflow, deliverables, and critical information; and
Our experience and scalability allows us to customize and adapt our delivery model to align with our clients’ broader business goals.

Our team of payroll specialists works closely with our employment tax, workforce management and labor law teams to support clients through the following services:

Payroll services
Technical advice
Consulting
Training
Project management

At PwC, we are fully prepared to address the challenges inherent in the payroll function. With our expertise in managing complexity and ensuring confidentiality, we provide comprehensive support to clients with employee numbers ranging from a single individual to over 1,000.
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We’re working with our clients in:

Tax provision outsourcing and support;
Accounting for uncertain tax positions (including FIN 48) assessments;
Tax accounting technical assistance andsupport, including customised training;
Other specialised tax accounting services, including deferred tax analyses and tax balance sheet assistance; and
GAAP conversion modelling to determine the tax and accounting impact of moving different GAAP.

We’re working with our clients to:

Perform current state reviews of tax management across the business using our Tax Management Maturity Model (T3M);
Develop a tax strategy that’s aligned to the organisation’s commercial goals;
Develop and implement a detailed roadmaps for the tax function transformation;
Improve the effectiveness and efficiency of the tax function processes and controls;
Undertake detailed risk management reviews of the tax function;
Identify and manage the risks and challenges arising from change; and
Meet the demands for increased transparency.

Have you already heard about PwC's new Payroll services?

Payroll is becoming increasingly complex, with more scrutiny from regulatory and tax authorities than ever before. Find out how PwC can help your organization.

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