Product tour: Cloud EPM Tax Reporting - Pillar Two overview
EPM: Tax Reporting - Pillar Two Overview
EPM: Streamline your Pillar Two tax reporting
Oracle Cloud EPM Tax Reporting provides end-to-end capabilities for OECD Pillar Two reporting. These solutions include automated top-up tax calculations, efficient data collection from various source systems, easy monitoring of Pillar Two tasks, and modeling of future Pillar Two impacts on the organization.
Manage OECD Pillar Two (Global Minimum Tax) requirements
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 country-by-country reporting (CbCR).
Automate data collection from any source system beyond the general ledger
Calculate the tax provision and automatically generate tax journal entries. Tax provision is calculated from the lowest level (legal entity or filing group) all the way up to the consolidated tax disclosure. These calculations address US GAAP and IFRS requirements out of the box.
Ensure cross-enterprise collaboration
Reduce the impact of the new requirements across the enterprise with Task Manager, which can assign and monitor tasks from a central dashboard for seamless collaboration between tax, finance, and other operational areas. 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 with world-class calculation and reporting capabilities. Tax users can also copy Pillar Two data to forecast scenarios for end-to-end modeling.
Automatically populate country-by-country data
Automatically fill in the 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
Collaborate on master and local files with users around the world by incorporating tax reporting details into Oracle Cloud EPM Narrative Reporting.