Tax Reporting Cloud Service (TRCS)

The TRCS application is cloud-based software by Oracle, which is built on a multidimensional platform and has out-of-the-box functionalities to meet the requirements of Tax provision processes, including forms, reports and tax calculation.

Features:

• Input Forms for Data Entry (e.g., Adjustment to Perms and Temps, NOL, Tax Credit, etc.)
• Pre-built rules for translation and consolidation of Tax data
• In-built Fixed Assets Register to capture book and tax balances to facilitate Tax adjustment for Depreciation
• Automatic calculation of Effective Tax Rate and Direct tax expenses at both entity and Group level
• Automated Return to Accrual Return to Provision True-up
• Driving Workflows to define the approval process.

Benefit:

• Ability to automate the calculations of Book Tax differences (permanent/temporary adjustments)
• Automate the tax computation – monthly, half-yearly and year-end.
• Automate the deferred tax proof – Balance Sheet approach
• Automate the ETR analysis – MoM, YoY
• Automate the tax return process – ITR 14 return schedules
• Automate the budget forecast process