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Tax function and tax automation services

How to improve the efficiency of the tax function and what effect to expect?

One of the important areas of the tax function development is raising its significance in the company.

The objectives of effective tax risk management stipulate the integration of the tax function into all processes of the company and the transition from the role of accounting and preparation of tax reports to the role of a business partner focused on risk management and quality support in making investment decisions.

In today's world, the development of the tax function is impossible without an automated tax accounting. Automation helps increase the efficiency of preparing tax reporting and implement automatic control procedures for tax reporting review.

As a result, finance, accounting and tax functions can focus on the most complicated and critical issues to prevent tax risks and ensure company's success.

Like any other function of the company, the tax function includes three components: people, processes, systems. Our goal is to make their work as efficient as possible. With this in mind, we recommend working in three areas:

  • improvement of the organizational structure of the tax function and the KPI system to assess its effectiveness;
  • setting up and regulating tax function processes and improving the tax function management system;
  • setting up and automating the system of internal tax control and tax risk management;
  • automation of a tax function.

Working in the above areas may lead to the following positive effects for the company:

  • prevention or mitigation of tax risks throughout the Group;
  • increased level of control and transparency of the company's tax business processes, information and document flow;
  • ability to forecast and manage the tax burden;
  • reduced costs for the preparation of tax reporting and performance of other tasks of the tax function;
  • increased motivation of employees and the company's appeal as an employer for qualified tax specialists;
  • increased company's value due to its reputation of a good-faith taxpayer and a reliable counterparty, improved competitiveness of the company.
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Kept tax function management services

1. Development of a tax strategy for effective management of tax risks and taxation.

2. Diagnostics of the operation of the tax function and benchmarking of its effectiveness through comparison with the tax function in comparable companies.

3. Optimization of tax processes and development of methodological and regulatory documents for their implementation.

4. Unification of tax accounting policies and principles of tax accounting.

5. Development of a "quick closure" methodology for taxes.

6. Development of a system of internal tax control, management of tax risks and reserves.

7. Development of a tax planning and budgeting system.

9. Development of a system for assessing and motivating personnel, including KPIs for the tax division.

9. Methodological support for automation of tax accounting and preparation of tax reporting, including:

  • design of an effective model for implementing business processes related to the preparation of tax reporting;
  • development of methodological design solutions for tax automation in the information system;
  • implementation of automatic control procedures in the information system to ensure the completeness and correctness of tax reporting.

Why Kept?

1. Our team has extensive experience in implementing projects to develop an effective tax function model and implement business processes, establish a tax accounting methodology, implement an internal tax control system, create tax forecasting models and other projects for large Russian and foreign companies.

2. Kept developed and tested its own methodologies and know-how on projects to improve the tax function and automate it for companies in various industries.

3. Our employees have experience in successfully implementing tax automation projects in SAP, Oracle, 1C and other systems, which is confirmed by positive feedback from our clients.

4. The use of best international practices, the involvement of international experts, and an understanding of Russian specifics allow us to offer the most effective and appropriate solutions to improve the tax function of our clients.

Contact

Please contact us by completing the feedback form at the link below (in the Type of inquiry field, select Request for proposal)

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Request for proposal