ESSENTIAL INTERNATIONAL TAX SOLUTIONS...ESSENTIAL INTERNATIONAL TAX SOLUTIONS 3 THE BENEFITS OF...
Transcript of ESSENTIAL INTERNATIONAL TAX SOLUTIONS...ESSENTIAL INTERNATIONAL TAX SOLUTIONS 3 THE BENEFITS OF...
ESSENTIAL INTERNATIONAL TAX SOLUTIONSPOWERED BY ORBITAX
REUTERS/Jo Yong-Hak
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A CENTRAL INTERNATIONAL TAX DASHBOARD FOR YOUR GLOBAL ENTERPRISE
Now for the first time, you can access all the international tax materials you need to get your job done, all in one place.
New from Orbitax and Thomson Reuters Checkpoint, these international solutions provide you with:
• comprehensive tax rate data
• compliance tools
• entity data management and display tools
• an enterprise-wide collaboration platform
• and robust worldwide tax calculation and optimization software
Which means you’ll have everything you need to complete your global tax requirements quickly, easily and with greater confidence.
ESSENTIAL INTERNATIONAL TAX SOLUTIONS 3
THE BENEFITS OF HAVING ONE CENTRAL GLOBAL TAX DASHBOARD
RESEARCH & PLANNINGWithholding tax minimizerCountry snapshots of key rulesTax rates for 120 countriesTax strategies
COMPLIANCETax forms in EnglishCompliance checklistsTax compliance calendarInterest penalty calculator
CHARTINGEntity managerTransaction modelingEntity chart playbookWorkbooks
Manage your worldwide effective tax rate more efficiently and
SAVE MONEY
Comply efficiently at a global level and
GAIN PEACE OF MIND
Create and manage your entities globally, all at once to
SAVE TIME
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With Research & Planning capabilities, you can:
• Look up tax rates and tax rules for 120 countries and 9 payment streams
• Use a checklist of tried and tested international tax strategies
• Create comprehensive PDF reports containing schematics of alternative tax structures, global tax content and details of worldwide tax calculation results under alternative scenarios
RESEARCH & PLANNING
Quickly look up corporate tax rates, surtaxes, and effective tax rates listing corporate tax rates for the current year, the past five years, and approved changes for future years
Instantly compare domestic, treaty and EU withholding tax rates for 120 countries and 9 payment streams
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ADDITIONAL POWERFUL FEATURES ENABLE YOU TO...
• Efficiently analyze corporate tax rates, surtaxes, and effective tax rates listing corporate tax rates for the current year, the past five years, and approved changes for future years
• Efficiently research 9 payment streams including: dividends, interest, patent royalties, trademark royalties, copyright royalties, capital gains, technical services, management services and sales
• Get a good understanding of key tax rules for multinational companies doing business outside their home country. Rules include forms of doing business, corporate and withholding tax rules for resident and non-resident businesses, anti avoidance rules and indirect tax rules. Tools to compare rules across countries and create reports in excel and PDF
• Save time by automating tax memo creation with calculations for tax return due dates, interest and penalties, net operating loss carry-forwards, transfer pricing ratios, etc.
• Research treaties in one place, including all US income tax treaties, protocols, treasury explanations and joint committee explanations via relevant links through the software
• Minimize taxes by showing you how to Implement eight tried and tested international tax strategies and assemble the results in one comprehensive report. The strategies include, avoiding a permanent establishment, maximizing tax incentives, maximizing transfer pricing, maximizing interest deductions, minimizing withholding taxes, maximizing exemptions and foreign tax credits and deferral
• Reduce withholding taxes by using withholding Tax Minimizer
• Easily calculate tax costs and benefits of a cross border transaction
• Access tax administration websites through links
• Automatically convert currencies for the current year and past years with the new Currency Converter. Convert into paying country currency, receiving country currency and common currency
ADDITIONAL INFORMATION
• Included Services: Training
• Optional Services: Help implement and create comprehensive reports for any of the tried and tested international tax planning strategies
AlgeriaArgentinaAustraliaAustriaBahamas BahrainBarbadosBarbados IBCBelarusBelgiumBermudaBoliviaBrazilBritish Virgin IslandsBritish Virgin Isl. IBCBulgariaCameroonCanadaCayman IslandsChileChina (People’s Rep.)ColombiaCosta RicaCroatiaCyprusCzech RepublicDenmarkEcuadorEgyptEl SalvadorEstoniaFinlandFranceGabonGermanyGibraltarGreeceGuatemalaHong KongHungaryIcelandIndiaIndonesiaIranIrelandIsle of Man IsraelItalyIvory Coast Jamaica JapanJerseyKazakhstan KenyaKorea (Rep.) KuwaitLatvia
Lebanon Liechtenstein Lithuania LuxembourgLux Hold C Malawi MalaysiaMaliMaltaMauritiusMexicoMonacoMorocco Netherlands Neth. Antilles New Zealand Nicaragua NigeriaNorwayOmanPakistanPanama ParaguayPeruPhilippines PolandPortugalPuerto Rico QatarRomania Russia Saudi ArabiaSenegal Singapore Slovak RepublicSloveniaSouth AfricaSpainSri Lanka SwedenSwiss Dom C Switzerland TaiwanThailandTogoTrinidad & TobagoTunisiaTurkeyUkraineUnited Arab RepublicUnited Kingdom United States Uruguay Venezuela Vietnam Zimbabwe
RESEARCH & PLANNING
RESEARCH & PLANNING TOOLS COVER THESE COUNTRIES:
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With Compliance capabilities, you can:
• Create a tax calendar for all your legal entities
• Collaborate with those responsible anywhere in the world to keep track of due dates and collect filed forms
• Translate the forms into English or any other language
• Save a side-by-side view of both the original and translated forms
COMPLIANCE
Key tax forms translated into English for 80+ countries, including corporate tax return forms, treaty benefit claim forms, withholding tax reporting forms
Customizable Tax Compliance Calendar – Allow respondents from around the world to list out the various forms that need to be filed and the due dates and the calendar can then track the status including sending out reminders at defined intervals
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ADDITIONAL POWERFUL FEATURES ENABLE YOU TO...
• Easily monitor compliance facts through compliance checklists that include filing requirements and due dates, interest and penalties on late and incorrect returns, statutes of limitations,refunds, etc.
• Ensure compliance with Anti-Avoidance checklists with data on Limitation of Benefit (LOB) clauses, transfer pricing, Controlled Foreign Corporation (CFC) rules and thin capitalization rules compliance
• Compare compliance rules across countries/jurisdictions
• Access in one place key tax forms translated into English for 65+ countries, including corporate tax return forms, treaty benefit claim forms, withholding tax reporting forms
• Quickly calculate and manage risks associated with late or insufficient compliance with the Interest and Penalty calculator
ArgentinaAustraliaAustriaAzerbaijanBahamas BarbadosBelgiumBermudaBrazilBritish Virgin IslandsBulgariaCanadaCayman IslandsChileChina (People’s Rep.)ColombiaCroatiaCyprusCzech RepublicDenmarkEgyptEstoniaFinlandFranceGermanyGibraltarGreeceHong KongHungaryIndiaIndonesiaIrelandIsle of Man IsraelItalyJamaica JapanJerseyKazakhstan Kenya
Korea (Rep.) KuwaitLatviaLithuania LuxembourgMalawi MalaysiaMaltaMauritiusMexicoNetherlands New Zealand NigeriaNorwayPakistanPhilippines PolandPortugalPuerto Rico QatarRomania Russia Singapore Slovak RepublicSloveniaSouth AfricaSpainSri LankaSwedenSwitzerland TaiwanThailandTrinidad & TobagoTurkeyUnited Arab EmiratesUnited Kingdom United States Venezuela Vietnam Zimbabwe
COMPLIANCE
COMPLIANCE TOOLS COVER THESE COUNTRIES:
ADDITIONAL INFORMATION
• Included Services: populate client Due Dates in Orbitax, training on Client Data, customized Update Plan
• Included Deliverables: Due-Dates (Return, Est Payment, etc.) in Orbitax File, PDF-Copy, Update Plan
• Optional Services: Foreign Tax Receipts, Collection, Foreign Audit Adjustments - Collection, Foreign Information Return Data, Collection
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With Charting capabilities, you can:
• Create visual representations of your legal entity chart
• Use filters to create one or more sub charts
• Produce a compressive report with details of entity data, cross border transaction data and charts
CHARTING
Entity Manager and Entity Designer – create and maintain global entity structure
Transaction Module – input and display past, current, and future transactions
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ADDITIONAL POWERFUL FEATURES ENABLE YOU TO...
• Create customized reports with detailed charts of global entity structure, spreadsheets with selected entity and transaction data, document attachments, table-of-contents and index with the Entity Chart Playbook
• Use workbooks to upload your own Microsoft Excel® files with entity data and map it into the entity chart import template. The filled in template can then be used to create a graphical representation of the legal entity chart. To update the entity chart all that is needed is to replace the source excel files (since the mapping is already in place this step does not need to be repeated)
ADDITIONAL INFORMATION
• Included Services: Match client Entity Charts in Orbitax, training on Client Data, customized Update Plan
• Included Deliverables: Entity Chart in Orbitax File, PDF- Copy, Update Plan
• Optional Services: Other Charts — historical, planning, etc., Compliance Workpapers — matrices, attachments, Corporate Structure Book, Automated Entity Chart — data surveys & sign-offs
CHARTING
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CHARTING
Entity Chart Playbook - customized PDF report with detailed charts of global entity structure, spreadsheets with selected entity and transaction data, document attachments, table-of-contents and index
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INTERNATIONAL TAX SOLUTIONS THAT WORK TOGETHER
In addition to Research & Planning, Charting and Compliance, we offer several other international tax products designed to work in tandem with each other — delivering a complete end-to-end solution for all your global needs.
REUTERS/Damir Sagolj
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Calculate detailed US and non-US taxes for any number of years (historical, current and future) and the impact of various “what if” scenarios, including changes in entity structure and cross border transactions.
Easily upload one or more Microsoft Excel® files with entity data, transaction data and tax attributes, and the software will automatically populate all relevant tax rates (corporate tax, withholding tax, participation exemption rules) from a database that supports tax rules and rates for 120 countries.
All calculation logic is built in an Excel-like environment with complete visibility of calculation formulas, as well as the same familiarity and flexibility as native Excel.
ADDITIONAL INFORMATION
• Included Services: populate client attributes in Orbitax, training on Client Data, customized Update Plan
• Included Deliverables: Current Tax Attributes in Orbitax File, PDF- Copy, Update Plan
• Optional Services: Quarterly Automated Data Updates, Quarterly Calculation Outsourcing
WORLDWIDE TAX CALCULATOR
Detailed US total tax calculator - calculates the total worldwide tax cost taking into account the entity chart, crossborder transactions and detailed tax attributes including E&P pools, FTC baskets, flow-thru logic, NOL logic and foreign currency translations
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TRANSACTION MANAGEMENT
Download transactions from your general ledger, automatically apply with-holding taxes and other cross border tax rates, create transactions required to comply with transfer pricing policies, create dividend distribution transactions (actual, non APB 23, planned), and graphically display your transactions within your legal entity chart
ADDITIONAL INFORMATION
Includes: Populate existing cross-border transactions in Orbitax, training on Client Data, customized Update Plan
Included Cross-Border Transaction Management Solution Deliverables: Current Tax Attributes in Orbitax File, PDF-copy, Update Plan
Optional Services: Automate the transaction capture from GL to cross-border transaction management templates, Create cross-border dividend transaction, Calculate cross-border transaction amount to keep within accepted transfer pricing policies working with TP and Loan calculator tools inside the software, Schedule M reporting
TAX DATA WAREHOUSE
Save all tax relevant data inside a SQL database, use sophisticated filters to retrieve saved data by time period, legal entity, tax attributes and cross-border transactions. Database can be grown organically by adding additional data fields at any time.
ADDITIONAL INFORMATION
Included Services: populate TDW with entity, transaction and calculation data, training on Client Data, customized Update Plan
Optional Services: Identify data elements and documents to save in TDW; Create a process for automating updating of the data and documents, Design and create Historical Foreign E&P Report with annual drill-down and multi-year visibility, Create customized reports that can be automatically updated by linking with TDW
Create a database of any and all tax relevant items by legal entity. Data can be stored for multiple time periods and saved by year, quarter, month, etc.
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TAX OPTIMIZER
Built in optimizer engines can automatically analyze multiple what if scenarios to determine optimal dividend repatriation and worldwide tax minimization strategies taking into account tried and tested international tax planning solutions including maximizing intercompany payments consistent with local country thin capitalization and transfer pricing rules, minimizing withholding taxes, maximizing foreign tax credits and tax deferral strategies.
ADDITIONAL INFORMATION
Included Services: training
Optional Services: Calculation Outsourcing to model optimal repatriation and worlwide tax minimization scenarios
Repatriation optimizer recommends alternative strategies to repatriate money and minimize worldwide tax after analyzing all possible repatriation options
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TAX DATA WAREHOUSE
SEE HOW ALL OF THESE TOOLS WORK TOGETHER TO PROVIDE ONE COMPLETE RESOURCE
RESEARCH & PLANNING
CHARTINGTRANSACTION MANAGEMENT
WORLDWIDE TAX CALCULATOR
TAX OPTIMIZER
COMPLIANCE
YOUR DATA...
YOUR DATA...
FOR MORE INFORMATIONCall 800.431.9025Or visit yourcheckpoint.thomsonreuters.com/orbitaxOr find your Account Manager at ria.thomsonreuters.com/replocator
About Thomson ReutersThomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world’s most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 55,000 people and operates in more than 100 countries. For more information, go to http://thomsonreuters.com.
About OrbitaxOrbitax provides a range of international tax decision support, data management and analysis tools, seamlessly linked to the underlying tax laws and regulations of 120 countries. Our solution based offerings allow tax professionals to dramatically reduce the time spent on research, compliance, entity data management and modeling the worldwide tax impact of cross border transaction and entity chart changes with a view to optimizing cash flows tied up in taxation.
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