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Transfer Pricing Documentation and Planning with Digital DoX
TP documentation powered by technology
Evolving implications from the OECD's Action 13 guidance are challenging you to find more efficient, centralized and integrated ways to plan and manage your TP documentation processes. Tax audit activity is on the rise as authorities seek to widen tax bases. Increased desire for transparency is compelling businesses to adopt a centralized TP documentation approach. The TP Digital DoX solution, available via myInsight, will allow you to examine your overall transfer pricing documentation process including a unified, consistent global/regional perspective of your TP documentation status across the globe.
Technology enabled transfer pricing documentation
Transfer pricing (TP) Digital DoX is a web-based solution available on the myInsight platform. It facilitates and streamlines the efficient preparation of TP documentation reports, while allowing for close collaboration across Deloitte as well as your internal project teams.
Factual and financial information is gathered via user-friendly online questionnaires, the responses to which are mapped into automatically generated TP master file, local file or stand-alone reports following a modular approach.
Why should you use TP Digital DoX?
TP Digital DoX will allow you time and resource savings by:
- Streamlining information gathering and report compiling to support the entire lifecycle of a TP documentation engagement
- Facilitating an integrated, online process to generate local and OECD/BEPS compliant transfer pricing documentation reports
- Enhancing project efficiencies and helping to manage human error
- Providing a single global platform used by the entire Deloitte TP practice across the world which facilitates increased collaboration with Deloitte and your global project teams
- Being flexible, customizable and scalable, enabling you to meet specific project requirements amidst expanding business needs
- A web-based user-friendly solution
- Automatic simultaneous multiple report generation
- Central project management by way of an integrated dashboard
- A modular approach to TP documentation, giving you the ability to review at the modular level with the functionality to track changes and comment on a specific item or overall at the section level
- Significant pre-built logic based on Deloitte's latest global experience
- A highly secure platform ensuring you maximum data protection and information security
A closer look at the TP Digital DoX dashboard
The Digital DoX dashboard provides your teams and Deloitte with a single, consistent view, ensuring full visibility of global project status. With centralized oversight, it is easy to track the status of your questionnaires and deliverables, as well as the underlying modules (i.e. associated functional analyses and economic analyses). One of the key elements of the dashboard relates to its establishment of pre-defined report deadlines―for user review and modification―based on your local entity year-end dates in combination with local requirements.
The dashboard further provides insight into the status of the underlying modules that constitute each deliverable. The dashboard also gives you the ability to track individual user responsibilities ― showing you ownership over an assigned module or deliverable, the response due date, and the percentage completion.
A closer look at the TP Digital DoX Strategic Scoping Tool
The Strategic Scoping approach offers an automated, algorithmically-based and globally consistent methodology for TP project scoping that is flexible, efficient, transparent, and designed to enable collaboration throughout the entire project planning process. The outcome of the scoping process (i.e., the countries, entities and transactions to be covered, as well as the associated workplan), are automatically leveraged to provide an expedited project kickoff phase and efficient project delivery.
Why use the Strategic Scoping approach?
- It provides direct insight into individual factors that shape Deloitte’s scoping assessment and the ability to explore each scoping decision in-depth
- The structured and methodical approach to scoping and project planning brings together relevant factors for consideration so that consensus is reached on each step of the process before moving forward
- It provides the ability to adjust transaction threshold, quickly adapt to changes, and make manual modifications in real time to create a flexible, streamlined scoping process
- The automatically generated project work plan provides users with a detailed project framework and speeds up the project management initiation
- The resulting list of countries, entities and transactions to be covered, as well as the associated work plan, can be automatically leveraged in order to provide an expedited project kickoff phase and efficient project delivery
- A centralized, globally consistent starting point to TP project planning facilitates seamless integration of the Deloitte teams, providing you with consistent TP documentation services across the world
- Proprietary scoping algorithm, which can be customized to meet your needs
- Globally standardized, consistent approach
- Efficient, automated, scalable and flexible technology
- Built-in collaboration and transparency opportunities
- Real-time scope and work plan adjustment capabilities
- Streamlined information gathering
- Automated transition to project delivery
To learn more, or to see a demo of TP Digital DoX and the Strategic Scoping approach, contact your Deloitte client service team.