Corptax BEPS CbC

Get Ahead of the Curve with BEPS CbC

BEPS CbC Filing Update: Corptax will provide filing of the new Form 8975 in 2017 for optional 2016 tax year filing and in 2018 for mandated 2017 tax year filing.

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Corptax BEPS CbC provides multinational enterprises with a simple, comprehensive solution to prepare for finalized Country-by-Country (CbC) reporting requirements. Corptax single system automation lets you leverage data already in the system—such as amounts, entity information and structures—for ease, speed and accuracy.

Build a process to identify, collect, store, validate and analyze data all within Corptax, and benefit from a flexible reporting structure to review data from a consolidated level to a transactional level.

Storing and managing information at the entity level provides scalable data collection workflows and the ability to use existing data to model hypothetical outcomes of new transfer pricing policies and other BEPS action items—helping you to assess risk and facilitate planning. Need to accelerate BEPS planning? Engage Corptax Professional Services for assistance.

Use BEPS CbC to:

  • Gather needed data from global stakeholders with ease & consistency
  • Automatically calculate & reconcile data & populate CbC Tables
  • Standardize & validate data accuracy for global compliance
  • Understand & meet Action 13 guidelines
  • Adjust to changing country regulations

The starting point and the foundation for BEPS reporting is already in Corptax.”
— Audrey Lespier, The Kraft Heinz Company

Global Constituents Save Time, Minimize Work & Preserve Accuracy

Streamline readiness & ultimate filing activities with BEPS CbC:

  • Pull data points directly from trial balance data already in Corptax compliance or provision for CbC reporting—or easily collect data via the web
  • Allow company resources in other countries to enter, import, export & access data at the touch of a button, maintaining data consistency without the need for training
  • Populate CbC reporting tables automatically, including required allocation of income, taxes, & business activities by jurisdiction; & constituent entities information by jurisdiction
  • Report entity activity by jurisdiction or across jurisdictions, human resource information, revenue types (e.g., intercompany revenue per jurisdiction) & more
  • Classify accounts to present balances aligned with OECD requirements
  • Tag transactional level detail to analyze activity based on criteria, such as events, property or contracts, to determine impact on consolidated totals included in CbC reports
  • Utilize comparative reporting for intercompany transactions by account
  • View data at the consolidated level and drill down to see detail
  • Build a workflow-driven task flow that permits easy management of the process

Compliance Confidence is Easier than You Think

Based on OECD guidelines, Corptax BEPS CbC helps tax departments:

  • Organize the CbC readiness process
  • Collect & store data from multiple sources to meet CbC reporting guidelines
  • Articulate consistent transfer pricing positions
  • Model ‘what if’ scenarios around different transfer pricing & CbC regulations
  • Prepare reports consolidated by entity in accordance with anticipated CbC requirements
  • Map historical data from other tax processes to data points included in CbC report guidelines
  • View data in the format of OECD guidelines for Table 1 & Table 2
  • View data analytics reports, such as the CbC ledger statement, account statements, transaction views, etc.
  • Configure global security & rights access
  • Stay current on U.S. & country compliance requirements as they change
  • Work in functional or reporting currency

Tax Solution Features

Simplify BEPS Compliance

See how we help you streamline BEPS CbC reporting.

Webinar: Navigating BEPS Compliance—Inside the IRS Ruling
Understand important issues multinational organizations are facing and learn best practices to prepare for BEPS CbC reporting.

Webinar: Corptax BEPS CbC (Corptax Users)—Prepare for BEPS Global Compliance
Build a sustainable process to identify, collect, store, validate and analyze data using information already in the system.

Webinar: Corptax BEPS CbC (non-Corptax Users)—Streamline BEPS Reporting
Explore a solution designed to help multinational organizations build a process to file accurately. We cover data collection and consistency, transfer pricing analysis and more.

e-Book: BEPS Country-by-Country Reporting—5 Considerations to Ensure Readiness
Hear from international experts. Learn how to gauge the work required to report, key facts about data consolidations, and questions to ask about transfer pricing positions.

Corptax Professional Services Consultation
Corptax is currently working with companies to provide basic setup guidance, readiness testing and full process design and deployment. How can we help?

Explore Corptax Resources