Deloitte Wins Back-to-Back ITR ‘Americas Tax Technology Firm of the Year’ Awards has been saved
Deloitte Wins Back-to-Back ITR ‘Americas Tax Technology Firm of the Year’ Awards
International Tax Review honors Deloitte for continued excellence in Tax Technology and Transfer Pricing service in the Americas region
NEW YORK, October 14, 2019 — International Tax Review (ITR) once again has named Deloitte as the leading “Americas Tax Technology Firm of the Year” and “Americas Transfer Pricing Firm of the Year” for the organization’s work driving innovative solutions and improving efficiency for multiple client projects in the Americas region.
This is the second consecutive year Deloitte won “Americas Tax Technology Firm of the Year” and third consecutive year it won “Americas Transfer Pricing Firm of the Year.” Deloitte also was named “2019 North America Transfer Pricing Firm of the Year.”
"Winning the title of ‘Americas Tax Technology Firm of the Year’ delivers on Deloitte’s commitment to be at the forefront of providing innovative solutions and driving unprecedented digital transformation in tax" said Steve Kimble, chairman and chief executive officer, Deloitte Tax LLP. “Through our Tax in 2020 initiative, we are bringing our clients practical applications of emerging technologies, helping them to address current and future tax priorities in a transparent, streamlined, and customized manner.”
Earlier this year, Deloitte Tax LLP unveiled its global Tax in 2020 initiative, a three-year digital transformation plan anchored by an unprecedented investment in building a seamless global tax experience for its clients.
The technological advancements which led to ITR’s selection of Deloitte as the leading Americas tax technology organization are prime examples of how the Deloitte network is using digital innovation to help its clients adapt to accelerating globalization, increased regulatory and business complexities, and other transformational changes in the corporate landscape. They include:
- Indirect Tax Compliance—Increased reporting requirements coupled with greater scrutiny from tax authorities are challenging businesses to find digital solutions that will increase efficiency when managing the indirect tax compliance process. To assist, Deloitte developed the Indirect Tax Compliance solution (ITC), a technology which allows clients to implement a standardized and automated indirect tax compliance process.
From data upload to the submission of indirect tax returns, the web-enabled application covers today around 60 countries across the globe, with further expansion ongoing. Delivered by experienced subject matter professionals, ITC offers more than 49 built-in quality checks, translating to quality and control embedded throughout the indirect tax compliance process. ITC has improved many clients’ risk management by eliminating manual intervention, providing greater insights through an interactive dashboard, and offering a full audit trail with all data related to indirect tax compliance held in one system.
- IPACS Financial Products—Historically, producing a comprehensive analysis of the tax impact of securities trading was a manual and time-consuming process that rendered a snapshot of past results—sufficient for regulatory compliance, but too late for effective tax planning. Deloitte built IPACS Financial Products (iFP) to specifically serve this securities trading environment.
Deloitte’s U.S. tax professionals use iFP to tax-sensitize portfolio data, analyze tax positions based on the trading strategy, security types, and investor demographics, and consider multiple scenarios based on specific objectives—whether annual tax reporting, periodic estimates, audit defense or strategic planning. Using IPACS, clients can visualize historical tax positions and risks with detail they can drill into, enhance the reliability of their tax reporting process with easier access to more frequent estimates, and analyze various scenarios based upon configurable tax positions.
- myInsight Signal Alerts—The global tax landscape is changing at an unprecedented rate, with an estimated 300 million pages of tax regulation to exist by 2020. Many companies encounter challenges trying to keep pace with the volume of change, which can be a time-consuming effort with costly financial and reputational consequences. To help multinational clients address this changing landscape, Deloitte has invested in the development of myInsight Signal Alerts to digitize tax regulation monitoring with artificial intelligence (AI).
Through collaboration with Signal A.I., myInsight’s AI platform actively monitors 175 jurisdictions, analyzes over 400 regulatory bodies, scans five million pieces of content each day from over 2.8 million sources, and translates this information across 80 languages, allowing Deloitte clients to gain greater control of their compliance with the latest regulations, minimizing disruption to their business.
The 14th annual Americas Tax Awards were given for innovative, complex and impactful transactions. The awards recognized work that broke new ground in the tax marketplace and was completed between March 30, 2018, and April 1, 2019.
About Signal A.I.
Signal A.I. is an AI-powered business intelligence and media monitoring company that aggregates, analyzes, and provides business leaders with insights into digital, print and broadcast media, news, and regulatory data. Signal’s cutting-edge machine learning enables businesses to track their competitive landscape, changes to regulation, and monitor their reputation—empowering them to make smarter, faster business decisions.
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