Ongoing MonitoringDo you need to identify conflicting information, expired forms and monitor change in circumstances? In the evolving and increasingly regulated world of CRS and FATCA it is imperative that businesses ensure they have the best data available for year end tax reporting and audits.
Address overlooked pain of manual validation
However manual operations and partially automated solutions have made monitoring and identifying changing circumstances (CiC), expired forms and forms with conflicting information a risky and painful process that is more reactive than proactive.
Requesting or exporting of reports from IT
Extensive review and reconciliation
And scheduled and diarised checks and follow ups
Reduce risk by removing reactive controlsA reactive process has challenges that can lead to reputational risk including multiple requests for new 1042’ and incorrect tax payables with jumps from 15% to 30% in withholding tax.
Automate your tax validation and remediation processTo meet these challenges, our Tax Operations Validation portal offers an Ongoing Monitoring Engine and Dashboard for tracking change in circumstances and form expiry.
Reduce operational risk and cost
Using TAINA’s ongoing monitoring tools, your tax operations team can revolutionise their tax validation and remediation process into a streamlined and efficient process that reduces operational risk and saves time and cost.
Deliver efficient and robust processes
Automating the process allows you to remove reactive controls, reduce rejections and amendments rates and provide good filing to tax authorities all year round. With a proactive tax operating model your team can always be on the front foot for identifying tax changes and expiring tax forms.