PwC collaborates with Google Cloud to power connected tax compliance strategy

London, April 4, 2024 PwC's connected tax compliance strategy is built to accelerate outcomes for our clients. Enriching the data used in tax compliance is a key element of business transformation. That's why PwC is working with Google Cloud to develop and deploy a new data platform that will accelerate the global delivery of connected tax compliance. The service combines PwC's breadth and depth of tax experience across more than 150 countries with Google Cloud's cutting-edge data analytics, cloud and artificial intelligence capabilities. Both organizations will focus on providing modern and flexible tax compliance solutions to address the challenges posed by an increasingly complex, data-driven global tax reporting and regulatory environment.

As the requirements of Pillar 2, which introduces a global minimum tax rate of 15%, take shape, multinational companies are facing demands for resources and upskilling, changing operating models, evolving data and systems needs, and new Facing compliance requirements. As a result, the need for complete, timely, and accurate tax data continues to grow as e-filing and e-invoicing compliance models expand. This has led CFOs and tax professionals to look for ways to realize value from their significant investments in cloud and enterprise resource planning modernization programs. By combining our skills, experience, and technology, PwC and Google Cloud create solutions that deliver lasting results for clients and build trust in data reported to regulators and used in business decisions. I believe you can.

PwC collaborated with Google Cloud to develop an advanced tax data management and analysis solution. The solution provides real-time visibility into tax data insights, control checks, exception testing, and adjustments, complementing and extending most existing tax calculation and reporting technologies on the market today. The solution is hosted on Google Cloud and leverages BigQuery, Vertex AI, and Google Cloud Cortex Framework to enable seamless integration with popular business applications such as SAP S/4 HANA. The solution leverages PwC's catalog of tax data dictionaries and its library of validations, rules, analytics, process intelligence diagnostics and tax rates, and adjustments. Corporate tax, transfer pricing, Pillar 2, indirect and withholding taxes, and environmental, social and governance (ESG) tax reporting are also covered. In addition to our existing core tax compliance capabilities, PwC also provides clients with flexible sourcing options and a wide range of tax compliance services, including tax data management, continuous control testing, e-invoicing and e-reporting services. Masu.

Carol Stubbings, Global Markets and Tax & Legal Services (TLS) Leader at PwC UK, said:

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