Comprehensive tax provision

Work with the most current data Streamline your tax provision process by directly accessing financial data from your general ledgers or financial consolidation system. Your tax calculations will use the most current data, giving you better accuracy and speed. Calculate tax provision Calculate the tax provision and automatically generate tax journal entries. Tax provision is calculated from the lowest level (legal entity) all the way up to the consolidated tax disclosure. These calculations address US GAAP and IFRS requirements out of the box. Complements your existing tax compliance software Import tax return details directly from your tax return software, reducing the need for manual processes. You can also export tax provision and trial balance to the tax compliance software at the push of a button.

Country-by-country reporting

Automatically populate country-by-country data Automatically fill in the country-by-country reporting (CbCR) template directly from your ERP or financial consolidation systems. Provide complete transparency back to the source financial numbers. Analyze tax data Leverage dashboards that include pre-built key performance indicators (KPIs) for typical audit flags such as revenue by employee and return on equity. Prepare locally, collaborate globally The corporate tax group can collaborate on local files with users around the world by incorporating tax reporting details into Oracle Cloud EPM Narrative Reporting.

Improve tax processes

Automate with tax schedules Completely automate processes that usually use spreadsheets with the tax schedule capability. Data collection, calculation, and analysis can all be automated, including supporting work papers for tax provision, tax compliance, research and development (R&D) credit, uncertain tax positions, and any tax data. Track performance with dashboards Maintain a tax calendar with important dates and workflow for key business processes in corporate tax (for example audit management, tax provision, country-by-country reporting, tax compliance, and more). View the status of the tax close process at any time. Meet critical deadlines Monitor tasks around the globe and identify process bottlenecks between resources and systems. View tasks across numerous attributes, including status due date, priority, task owner, task reviewer, task category, tax jurisdiction, tax year, and more.

Pillar Two

Manage OECD Pillar Two (Global Minimum Tax) requirements Address the most significant change in global taxation by assessing Pillar Two top-up tax liability. The solution provides end-to-end capabilities for top-up tax calculations, including Global Anti-Base Erosion (GloBE) Rules, covered tax, effective tax rate reconciliation, and tax liability determination. Automate data collection from any source system beyond the general ledger Minimize the burden of broad tax function data requirements and delays to the financial close process and automatically collect data from various source systems such as ERP, subledgers, financial consolidation, HR, tax provision, and CbCR. Ensure cross-enterprise collaboration Reduce the impact of the new requirements across the enterprise by ensuring seamless collaboration between tax, finance, and other operational areas with Task Manager, which can assign and monitor tasks from a central dashboard. Additionally, Oracle Cloud EPM can serve as a single book of record across the tax department, the controller’s organization, and FP&A, delivering greater efficiency and accuracy. Forecast future financial impacts Prepare for the new realities of the global minimum tax and model its future impacts by leveraging world-class calculation and reporting capabilities. Tax users can also copy Pillar Two data to forecast scenarios for end-to-end modeling.

Key benefits of EPM Tax Reporting

Best practice, out-of-the-box tax reporting

Meet global tax reporting requirements easily on a continuing basis with best practices. Tax provision and country-by-country reporting come out of the box.

Improve tax processes

Stop using spreadsheets for other key tax processes. Workflow, configurable tax schedules, dashboards, and robust reporting capabilities allow any tax process to be automated, including controversy management, uncertain tax positions, R&D credit, data collection for transfer pricing, data collection for tax compliance, and more.

Seamless transparency between tax and finance

Enable greater efficiency for tax processes, stronger controls, and unparalleled integration between book and tax reporting by leveraging your company’s investment in Oracle Fusion Cloud Enterprise Performance Management (EPM).

Easy to use and own

Make it easy as 1-2-3 to configure and maintain your tax processes with configuration wizards. Oracle Fusion Cloud EPM is easy to own while keeping you connected with finance systems.