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Palantir BEPS 13 Reporting Solution

Efficiently collect, structure, and manage your
Transfer Pricing related data with the
Palantir BEPS 13 & TP Reporting and Analysis Solution.

Collect information on business activities, country-by-country figures, local files, and transactions for each entity, or choose to compile all your transfer pricing documentation in one place.

Automatically create the required OECD XML schema from your data.

The solution has a number of available options for importing data from your accounting systems,
Excel files or other data sources. If you have filed CbC in a previous year
Palantir can help you to upload your old XML files into our solution which will allow you to view
the old figures, perform multi-year analysis and store all XML files in one solution.
Populating Palantir with CbC data is quickly done even when you have advanced requirements.
It is easy to set up the system and you could be up and running within weeks.

Main features

Group entities

Easily add or upload all your group entities to the Palantir BEPS 13 solution. Choose to add attributes such as country and segment to allow expanded filtering and sorting possibilities. Manage information on permanent establishments, entities registered in multiple jurisdictions, or entities resident in a tax jurisdiction different from the country of incorporation as required by the regulations set out by the OECD.

Business activities

Report on business activities described in the OECD BEPS Action 13 guide. It is possible to add comments for other business activities.

Country-by-country

Report financial information and other country-by-country requirements and keep track of them over time. The OECD BEPS Action 13 guide is available directly in Palantir for your convenience.

Local / Master files

Manage collection of local files to ensure all documentation is up to date and push out master files to all entities with the click of a button. With this function you can store all relevant data in one place where you are in control of the information.

Transactions

Collect information on transactions and transaction types within your group together with the underlying contracts which govern each transaction. This solution helps you to structure transactions data and easily find and filter out information on both sellers and buyers. You will be able to keep track of changes over time and have up to date information on what contract is in force.

Effective administration

The system automatically catches errors in the reporting and warns both the responsible reporter and their administrators, enabling both to keep track of outstanding issues and address them quickly. To minimize the administrative burden, there is a function to automatically remind all people with outstanding issues about what entities are concerned, what kind of errors there are and where to correct them. Information can be copied between reporting periods when few changes have occurred since the last reporting period avoiding duplication of reporting.

Integrations

Integrate the Palantir BEPS 13 module with your existing systems to avoid double entries of data. For example, you could choose to import CbC figures and transactions from your group accounting system, or you could use Palantirs' Excel import tool for importing figures directly from Excel.

Overview

Get an overview of all relevant information for one entity, including all files which have been uploaded weather it is the local file, regulatory files or contracts governing transactions. Choose to download all or a selection of files in one go for delivery to authorities or for use internally. Grant external advisors access to overviews enabling them to review and help you update your information.

Access levels

Appoint people responsible for BEPS reporting. Choose to appoint for a country, segment, per legal entity or a combination. Advanced access management is available so that local administrators can be appointed.

Currency conversion

Import currency rates for each reporting period from your group accounting system or add them manually. Apply End rates or Average rates when converting different figures or apply Average rates on all amounts for local GAAP as required by the OECD.

CbC XML standard

Extract the required information to the OECD standardized XML file format with the click of a button. Choose to extract for one or many countries or for the entire group allowing you to make group, local and secondary filings. XML exports are fully compliant with the standards for electronic transmission of information between tax authorities and has been validated by a number of tax authorities worldwide.

Local legislation

With Palantir BEPS 13 reporting module you have the option to add on a database which contains information on the local TP legislation as well as a range of other useful information such as tax rates, tax legislation and thin cap thresholds.

Review

Quickly get an overview of the reporting status for all entities, listing which entities have completed the reporting and who entered the information. Minimize administration by automatically sending out email reminders to users who have not completed their reporting.

Cloud service

The advantages of providing BEPS 13 as a cloud service are that you do not need to maintain a server, can be up and running quickly and will always have the latest updated software. Authentication is managed with SAML2, two factor authentication or the log in service of your choice.

Reports

Bring up reports which sort the information per country or per segment. Choose to view reports in local currency or summed up in the group currency. View information on an aggregated level or break it down on the lowest level per entity. All reports can be exported to Excel.

BEPS 13 County-by-Country Period Report The Country-by-Country Period Report enables you to group by Country or Book Currency and to view both current and historical data. In the screen shot above the report has been filtered to show companies belonging to three countries, grouped by country and in the group currency.

Analytics (add-on module)

Add on a possibility to analyse your data in order to identify potential risks. Set your own thresholds and build your own analysis KPIs (Key Point Indicators) to work pro-actively with transfer pricing in order to mitigate risks. Use the CbC data to make checks such as finding purchasing companies with a high operating margin or entities with a big difference between ETR and statutory tax rate. Use our different charts to present and analyse data visually.

BEPS 13 Analytics

Modules

Palantir BEPS 13 reporting solution is a module in the Palantir Platform. The module can be used independently as stand-alone solution or be part of a scaled up Platform solution. Other modules such as the Tax Risk Exposure module, the Legal Entity module and the Contract Management module can be added.

Custom built solutions

Palantir recognizes that many groups have special requirements and want to work with transfer pricing on a more detailed level. We will be able to offer custom built solutions that can meet your needs. An example of this could be to build in supply chain management for transfer pricing purposes and to build in advanced analysis tools for your prerequisites.


Would you like to know more about
our BEPS 13 Reporting Solution?

For more information and a demo,
please call +46 (0)8 10 00 80 or send an email to sales@palantir.se.

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Palantir Systems AB | Tegnérgatan 14 | 113 58 Stockholm | Sweden

www.palantir.se


Articles about BEPS 13 and CbCR

Country by Country reporting – what to consider ahead of the 2018 filing and beyond

Posted May 8th, 2018

Many qualifying groups have now filed their first CbC reporting and the reported data will be available for exchange between tax authorities during this year. Now is a good time to start preparing for the second filing. In this article we will share our experience and knowledge of what to consider when you establish your CbC reporting process, and how to be in control of the figures that will become available for analysis by tax authorities around the world. Read more »

Country by Country figures – what are the definitions?

Posted October 4th, 2017

The OECD has provided definitions for the figures that should be included in the country by country reporting. A number of questions has arisen in relation to the definitions and thus the OECD has clarified some of these in a guideline, the latest update released in September 2017. This article offers an overview of the OECD definitions provided by the Guidance documentation. It also includes some clarifications from local tax authorities which might be of interest to read. Read more »

How to manage and analyse your Country by Country data

Posted May 17th, 2017

In this article we discuss how to manage increased global tax transparency requirements with a focus on Country by Country reporting and analysis. Recently adopted legislation that requires the filing of Country by Country (CbC) data to tax authorities makes your group’s tax figures available for analysis by multiple jurisdictions where the group operates. Read more »

Challenges when creating the OECD XML schema

Posted April 28th, 2017

In this article we will share our experience and best practice when it comes to CbC reporting, and discuss some of the challenges you may face when creating the XML file according to the OECD XML schema. At the moment you are probably considering how to meet the Country by Country reporting requirements. Read more »