PartnerPlace Solution

Enterprise Tax Reporting

inlumi Supported by BDO

PartnerPlace Solution

Solution Details

The Enterprise Tax Reporting module is a tax offering which underpins all your tax provisioning (IFRS or USGAAP), CbCR and Pillar 2 requirements.

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Key Features

Enterprise Tax Reporting is a sophisticated set of modules built natively within OneStream which can be implemented individually or collectively to enhance your tax operations in relation to:

Tax Provisioning and Consolidation
Country by Country Reporting
Pillar 2

(Additional modules are in developed covering topics such as transfer pricing and tax within ESG)

Tax Provision+

Tax Provision+ supported by BDO’s global tax network, is a fully compliant IFRS and US GAAP reporting offering which seamlessly integrates with other OneStream financial consolidation, reporting and account reconciliation modules to provide a complete tax provision solution.

It is a sophisticated system which enhances the original provisioning package provided within OneStream to allow for alternative reporting approaches to be adopted (profit and loss or balance sheet), much greater levels of granularity, and enhanced control over the underlying calculation components. The module also leverages enhanced levels of reporting (aligned with both IFRS and US GAAP best practice) as well as modelling capabilities.

Taking and enhancing the original design, creating a module which is comparable to any of the leading 3^rd party enterprise grade tools, replacing your current spreadsheet approach or removing the need to separately license an external product. A fully compliant global tax provision solution, completely native to OneStream.

Output reports not only support consolidated reporting, but also statutory and management reporting requirements (e.g. reporting on underlying vs. exceptional).

Key features include:

Deferred tax not recognised (IFRS) or valuation allowances (US GAAP) tracking on an account-by-account basis.
Detailed Other Comprehensive Income items analysis
Rules-driven calculations to reconcile any differences in the FX methodologies between the finance and tax processes

Country by Country Reporting

Country by Country Reporting again with the tax content and calculations supported by BDO’s global network, this module allows for the collation and reporting of relevant underlying data held natively within OneStream and other supplementary systems to support annual reporting requirements. Providing full granularity over data from relevant sources the configured system will automate the calculation process to produce tables 1, 2 and 3.

This module when used in conjunction with the Pillar 2 module will form the basis for the safe harbour analysis, assuming the data creates a qualifying return utilising actual year data.

The module does not support the final XML conversion of the outputs.

Pillar 2 is a full end to end solution with the tax calculations supported by BDO’s global network. It uses native OneStream functionality to seamlessly integrate with other OneStream modules (e.g. financial consolidation, tax provision+, country by country reporting etc.) to collate and analyse the necessary data points to manage all your Pillar 2 and full GLOBE calculations including: