Case Study: Standardizing Tax Accounting Process IFRS

Case Description: With a rapidly expanding global footprint, an EU-based private company was facing increasingly complex local and international tax regulations, which started to strain the in-house accounting department. This project aimed to establish a robust tax accounting framework, which can accommodate the company’s dynamic business model, improve tax accounting accuracy, ensure compliance with IFRS and optimize the company’s tax position and cash flow.

Our Role: We led the efforts to baseline, standardize, implement, and improve the tax accounting process at the company level, by collaborating and coordinating efforts from various stakeholders, including tax, legal, accounting, and commercial departments.

Results: A comprehensive tax accounting process compliant with IFRS and local tax regulations was established company-wide, significantly reducing the risk of penalties. The integration of this standardized process streamlined tax reporting, freeing up valuable resources and reducing manual errors. This not only enhanced our alignment business objectives, but also supported sustainable growth and facilitated international expansion.