The international tax world is in the midst of profound change. The basis of this transformation is the Base Erosion and Profit Shifting (BEPS) Action Plan set forth by the OECD in 2013 that aims to close gaps in international taxation and end corporate tax avoidance. As countries around the world enact legislation in accordance with these guidelines, multinational corporations (MNCs) are required to report tax data like never before.
Country-by-country (CbC) reporting, as outlined in BEPS Action Item 13, is uncharted territory for MNCs. Together with master and local file reporting, these extensive requirements demand a comprehensive tax technology solution. With the OECD recommending countries adopt this guidance starting in 2016, the time is now for MNCs to take action.
Thomson Reuters ONESOURCE BEPS Action Manager combines research, data management, entity charting, document storage, reporting and analytics in a single solution, guaranteeing worldwide compliance and collaboration in a post-BEPS era.
- Creates a sustainable, repeatable data collection process
- Enables global consistency and transparency of data
- Documents and reports results to tax authorities
- Keeps you up-to-date on new regulations
- Reduces the reporting burden
- Increases collaboration across departments and geographies
With ONESOURCE BEPS Action Manager, manual data manipulation and the related risk of error is eliminated and replaced with a sustainable data collection process, giving you the ability to collect information from multiple data sources.
ONESOURCE BEPS Action Manager allows you to stay up-to-date on BEPS country-specific legislation and customise your research view in order to gather information on the countries that matter most to your business.
With up-to-date reporting templates by jurisdiction, ONESOURCE BEPS Action Manager defines country-by-country reporting requirements by the jurisdictions that are most important to your business.
Centralised Document Management
With ONESOURCE BEPS Action Manager, tax departments can centralise and filter entity charting, intercompany transactions, human resource information and much more, enabling in-house compliance for master and local file reporting.
Entity Management and Charting
With flexible entity management and charting, ONESOURCE BEPS Action Manager gives you the ability to organise entities for country-by-country reporting, including transaction flows that highlight various supply chains and intercompany transactions between entities.
Get ahead of inquiries from taxing authorities by calculating key ratios based on country-by-country inputs to identify outliers and proactively address discrepancies.
BEPS Global Currents
See beyond the surface of the OECD BEPS Action Plan and better understand its impact on your organisation with BEPS Global Currents.
Provides the latest BEPS developments by country, consisting of three main elements:
- Country-by-country coverage on all 15 action items for 47 countries.
- News and analysis, including a daily email newsfeed, summary head notes by country and topic and BEPS journal articles and white papers that provide in-depth analysis.
- Primary source content such as the OECD BEPS Action Items and related documents, domestic legislation, cross-border agreements (treaties, multi-lateral instruments), official announcements, releases, interviews, text of speeches and more.