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Palantir Corporate Tax

Group Tax Consolidation

Corporate Tax is a consolidation system which calculates, documents and collect tax data, facilitate the analysis process and secures the quality of global tax reporting from your subsidiaries.
It is based on Excel and can be custom built to include your existing tax reporting forms.

The main features

Multi-jurisdictions

Set up tax reporting for one or more local jurisdictions and convert the figures into IFRS compliant reporting simultaneously. It is possible to choose only to collect information on IFRS figures for all entities or have a mix of both local and IFRS reporting.

Legacy compatible

Implement your already existing, well tried and tested Excel reporting packages. Palantir allows for export of Excel templates into our system for use throughout the reporting process.

Scalable

You can choose to work with only a local consolidation but later on decide to scale up and convert your local figures to IFRS and add on multiple jurisdictions to consolidate the total group.

Error checks

Set up numerous checks of the data which is reported into the system. The checks are customizable for each customer and allow you to highlight errors for the reporters directly at the time of input. This will bring down the administration required to achieve high quality data.

Usability

Palantir Corporate Tax is user friendly as it utilizes the power of Excel. This ensures that new reporters quickly learn how to use the software and at the same time provides a well tested and powerful environment.

Customizable

Palantir will ensure that each system is optimized for each customer. This could include implementing existing reporting packages or adding specific tax calculations or other features which are required.

Integrations

Palantir will help you to integrate our software with you accounting systems and with your group accounting system. This minimizes manual input work and speed up the reporting process. In addition Palantir Corporate Tax can be integrated with Palantir Company Register to facilitate the updating of the group structure.

Documentation

Store all tax related information in Palantir and tie documents directly to the figure in your tax calculation that has been affected by it. This will give you trace-ability and make sure you do not forget any important information when you do your tax reporting.
Corporate Tax Structure

Reporting and integration explained in one chart

Palantir Corporate Tax will be customized to your requirements which means that the system can be set up to include both local and IFRS reporting or a mix of both. You can choose to include your already existing reporting templates, both local and IFRS templates, and to include other collection of data, e.g. compliance reporting. It is also possible to take Palantirs of the shelf reports and customize them to fit your requirements.

To facilitate the tax reporting process and to minimize the risk for errors you may choose to integrate Palantir with your accounting systems. Palantir’s integration platform allows for an automated integration as well as a semi-automatic integration using file transfers.

The consolidated tax data, both local and IFRS, can be viewed and analysed in many powerful reports which facilitates the analysis process and will save you time in the closing process. The group reports in Palantir Corporate Tax are structured to allow you to automatically populate the tax note to the annual report.

With Palantir you will stay in control of the entire tax reporting process all the way from the local level to the finished tax note. All data is structured in a coherent way which makes it easy to find information when you are looking for it, also when a person has left the group.

There is more…

Analysis

There are many features which facilitates your tax analysis. For example you have a powerful overview and consolidation of your group where you can spot inconsistencies and get warnings of potential errors. Another feature is the possibility to compare the current reporting period with another period and have differences listed both including and excluding any fx differences. There is also a possibility to drill down to the lowest level with the click of a button.

Access control

Set up different reporting roles and control who can see what in the system. There is a possibility to set up administrators, local administrators, viewers and reporters. For each type you can limit access to the system in a number of ways, e.g. to limit access to a number of entities or to only have vieweing rights for a country.

Control and overview

Stay in control of the reporting process by enabling sign off in one or several steps. Lock entities as they become completed and use the advanced commenting function to explain the reported figures.

Reporting process

Palantir has created a well structured reporting process which will, step by step, help your organization to complete the tax reporting and stay in control of the process as well as minimize the administrative burden and minimize the risk of errors.

Customizable templates

Each customer can either by themselves or by the help of Palantir or a third party easily change the reporting models or build reports for analysis in order to include new or changed calculations, new legislation or any other change that is required.

Tax note

With Palantir you can automate the creation of the tax note by allowing all jurisdictions to report their IFRS figures into Palantir. From this data you can then make your tax analysis and have Palantir populate your tax note.

Unit structures

Palantir Corporate Tax has the possibility to set up several structures which can be used for different purposes. This could be the legal ownership structure, a tax structure or the operating structure. Data can be viewed by structure or group in other ways, e.g. by country.

Groupings of units

The system can handle different types of reporting units. This includes both local and IFRS units, group adjustment units and consolidation units.

We will help you along the way

  • Implementation

    As a part of the implementation process we will be able to offer a number of services. For instance we will be able to customize our systems to meet your organization´s requirements. We will be able to custom build add on modules to our existing products or integrate our products with other systems you are using. If the needs of your organization changes over time you may add functionality or integrate our products with other systems at a later date.
  • Data Transfer

    In connection with an implementation of one of our products you may want to transfer existing data from other sources to the Palantir database. This could be data from other databases, from Excel files or from other types of software. We will be able to help you to convert this data and populate our database as a part of an implementation process. This could include users, entity data, figures or other structured data. We will also be able to help you to cross-check the information to sort out duplicates or inconsistencies in the converted data.
  • Integrations

    Palantir Corporate Tax can be integrated with other systems such as accounting or group accounting systems. With the Palantir integration platform we will be able to help you to make an automatic or semi-automatic integration. In addition we will help you to structure the data according to the set up in the integrated systems, e.g. dimensions or exceptions for some entities, to make sure the integration works smoothly. We will be able to provide a monitoring service to ensure that the integration is running as intended.
  • Training

    Palantir offers training services for all our products. Training is essential as a part of the implementation process, but also later on when new users start to use the software. Our training programs can be tailored to fit the needs of each customer ensuring that all users get the maximum benefit from participating in the program.

Technical specifications

Palantir Corporate Tax is a web deployed system. It consists of two applications installed on the web server. The first one is Palantir Tax Client which is the client part of the system and runs as Add-In to Excel. The second one is Palantir Tax Service which is the web server part of the system. By utilizing the Click Once setup technology of .NET framework, the system users can install the client module themselves simply by clicking on the link to the intranet web site containing the installation.

Client Requirements
  • Vista, Windows 7 or Windows 8
  • .NET Framework 4.0 or later
  • Microsoft Excel 2010 or later
  • Microsoft Visual Studio Tools For Office Runtime (VSTO) 4.0 or later
    (included in Office 2013 and 2010 SP1)
  • Internet Explorer 9 (or later), Google Chrome or Mozilla Firefox 3.6 (or later)
Web Server Requirements
  • Windows Server 2008 or later
  • IIS installed
  • .NET Framework 4.0 or later
Database Requirements
  • Microsoft SQL Server 2005 or later

Change log

Version 3.4 (September 28, 2016)

  • Larger Reporting Models: Improved support for creating and working with larger, more complex, reporting models.
  • Performance Enhancements: Improved loading time and saving time for models and reports.
  • New Tools and Utilities:
    • Roll forward amounts from previous period.
    • Automatic calculations for multiple units at once.
    • New automatic calculation: Net of Subsidiaries.
    • More options for sorting units in multi-period reports.

Version 3.3 (December 28th, 2015)

  • Improved Account Mapping: New web interface for administrating integrations with external systems.
  • Extended Integrations: Integration framework extended to handle both external consolidation systems and accounting/finance systems.
  • Imports from Accounting systems: Ability for reporters to self-manage mapping and import data from their respective accounting system.

Version 3.2 (September 1st, 2015)

  • Administration improvements:
    • Improved support for local administrators.
    • New Reviewed-state improving units’ sign off process.
    • Custom cell coloring in Group reports.
    • Extended warning flags functionality.
  • Excel and PDF export: Improved options for exporting reporting models and reports to new Excel- or PDF-files.
  • Large Reporting Models: Improved performance and usability for very large reporting models.

Version 3.1 (December 1st, 2014)

  • Account Mapping: Interface for mapping accounts and units in Palantir to respective accounts and units in external systems.
  • Imports and Exports: Framework to import and export data from external systems.
  • Cognos: Implementation of Cognos-specific integration rules, allowing for import and export of files from/to Cognos.

Version 3.0 (August 1st, 2014)

  • Customizable Instructions: Functionality for administrators to customize reporting instructions aimed at guiding reporters. Custom instructions can be overall guidelines for the reporting process or account specific rules and information. Account specific instructions are visible for the reporters directly in the Reporting Model.
  • IAS-Rules: Integrated official IAS-rules to the customizable instructions.

Version 2.8 (February 20th, 2014)

  • Comments: Functionality for creating comments and attaching files to amount cells in the Reporting Model and in Reports. Comments are available for both reporters and administrators.
  • IFRS-reporting: Framework for setting up IFRS structures and reporting including consolidation of reported amounts from multiple countries.
  • Multi-country reporting: Systems for setting up multiple countries with local structures and reporting.
  • New Period Comparison functionality: Functionality for comparing amounts from two different periods inside Reports.

Would you like to know more about the system?

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