R7 Tool by Cygnet Infotech
During this webinar, the first ‘building block’, will be the R7 tool by Cygnet, which extracts the tax relevant data pool for CbCr, VAT and your intercompany transactional matrix etc. This way you need to only extract data once, instead of organizing data extraction for each tax workflow separately.
Through R7 and a connector with another piece of software for transfer pricing, named TP Genie, the first excel spreadsheet – out of 3 – of the CbCr is being completed, which obviously allows you to automate lots of data handling and financial workflows, to free up your tax team to perform the CbCr ‘outlier analysis’ as well as the ‘XML-conversion’, both of which are additional functionalities you’ll find in the TP Genie toolbox.
A universal approach to collection of ‘data relevant for tax’ will be a pre-requisite to bring efficiencies into your tax workflows – often by the demand of the CFOs – and will often secure a proper ‘in control on tax compliance’ statement as well.
We invite you to this interactive webinar, where various polls will be used to get the input from our audience during the event. In addition, a few short videos will be shown to illustrate the more holistic way in which tax data needs to be configured and transformed to be ready for the filing in the digital mailbox of the tax authorities.
- Extensive automation can be applied to country-by-country reporting
- CBCR data can be collected from your existing financial reporting systems.
- How do you ensure the quality of your country by country tax data?
- How do you ensure compliance with the country or with the local XML format?