Thomson Reuters today released two products to help multinational companies (MNCs) manage the regulatory complexity and uncertainty created by sweeping tax and financial reporting requirements issued last week.
These software and information solutions were created in response to the Base Erosion and Profit Shifting (BEPS) Action Plan developed by the Organisation for Economic Co-operation and Development (OECD) to help nations standardize global corporate tax policies.
Thomson Reuters Checkpoint BEPS Global Currents
BEPS Global Currents from Thomson Reuters Checkpoint provides tax professionals with news, analysis, and reference materials covering the latest BEPS Action Plan developments. Its customizable dashboard delivers information on implementation activities across all 15 BEPS action items for 47 countries.
It allows users to stay up to date on the latest news via a daily email newsfeed, updated summaries for each country and topic, and white papers providing additional in-depth analysis. Checkpoint BEPS Global Currents also includes primary source documents such as the BEPS action items and related documents, domestic legislation, cross-border agreements, official announcements, speeches and more.
Thomson Reuters ONESOURCE BEPS Action Manager
BEPS Action Manager from Thomson Reuters ONESOURCE is a comprehensive software solution that enables corporate tax departments to meet all of the new global transfer pricing documentation requirements resulting from Action 13 of the BEPS Action Plan. It does this by providing data management, entity charting, document storage, reporting, and analytics in one solution.
It also eliminates the manual manipulation of data and reduces the risk of error by allowing the collection of information from multiple data sources while enabling users to address discrepancies by easily identifying outliers. ONESOURCE BEPS Action Manager performs the country-by-country reporting with up-to-date templates by jurisdiction and enables MNCs to respond proactively to new regulation by providing research data on the legislative landscape.
“Global regulatory requirements stemming from the BEPS plan will be extraordinarily challenging for companies,” said Brian Peccarelli, president of the Tax & Accounting business of Thomson Reuters. “Thomson Reuters BEPS solutions equip corporate tax professionals with the knowledge and technology to confidently comply with new rules and deadlines.”