Tax Data & Analytics

Data is key to enhancing the value of the tax function. Leveraging data for applied decision-making is becoming the norm and the tax function, being one of the largest consumers of data, is ready to transform.

PwC’s Tax business has developed solutions that add insight into our clients’ tax reporting, ease their compliance burden and enhance the effectiveness of the tax function by analysing and monitoring financial data using dashboards with drill-down capability.

Data analytics best lends itself to transaction-based taxes such as VAT, customs and excise duties, withholding taxes, transfer pricing and PAYE, where the benefits of using technology are almost endless. Our approach is structured so that the full population of transactional data is extracted systematically from all relevant financial systems, including feeder and product systems.

Analytical and logical tests are then run on this data and the results presented, thus providing management with improved insight into its tax accounting, and assurance regarding its tax compliance.

Tax Data and Analytics can help you:

  • increase insight in, and access to, your own tax data
  • analyse the tax process and control environment
  • identify tax accounting and financial risks
  • identify opportunities to optimise tax accounting
  • reduce tax compliance costs and time
  • get access to your own data for business intelligence trends and prediction purposes.
  • release tax and accounting resources to enable proactive tax management
  • improve your tax master data.

Our solutions enable you to:

  • process large populations of data
  • drill down to detailed transaction level and conduct root cause analysis
  • monitor, in near real time, a defined set of analytics
  • obtain customised views and dashboards.

Key services provided:

  • ERP systems “health check”
    Review the tax configuration of ERP systems to identify any incorrect tax set-up that may lead to recurring errors.
  • Cash management
    Ensure optimal reporting, based on transaction dates, to obtain the benefit of an immediate cash injection.
  • Control and process improvement
    Improve controls and processes to enable greater reliance on the accuracy and completeness of tax amounts reported.
  • Review tax risk through data analytics
    Perform tax data analytics, at source and on the full population of transaction data, to identify areas of tax risk.
  • IT14SD completion
    Use data analytics to assist with the completion of IT14SD returns.
  • Compliance
    Automate tax compliance, including VAT and other tax returns, through detailed supporting schedules, leading to improved efficiency and accuracy.
  • Audit support
    Simplify the audit process with access to comprehensive audit trails, the ability to perform sample extractions and ease of access to information.

PwC takes the lead

  • We have proven experience in advanced tax technology solutions.
  • We have considerable experience across various industries and various ERP systems, including SAP, Oracle, JDE, Syspro.
  • Our teams have extensive experience in all taxes and the necessary processes and controls required to manage associated risks.

What to expect from PwC Tax Data and Analytics

  • Findings – Discover the value in your own data.
  • Insights – Obtain valuable tax insights into your business.
  • Actions – Make decisions, add strategic value to the organisation and optimise tax compliance.
  • Outcomes – Improve tax controls, reduce tax risk, increase tax savings and improve the accuracy of tax compliance.