Tax Reporting | Performance Management | Oracle (2024)

Comprehensive tax provision

Work with the most current data

Streamline your tax provision process by directly accessing financial data from your general ledgers or financial consolidation system. Your tax calculations will use the most current data, giving you better accuracy and speed.

Calculate tax provision

Calculate the tax provision and automatically generate tax journal entries. Tax provision is calculated from the lowest level (legal entity) all the way up to the consolidated tax disclosure. These calculations address US GAAP and IFRS requirements out of the box.

Complements your existing tax compliance software

Import tax return details directly from your tax return software, reducing the need for manual processes. You can also export tax provision and trial balance to the tax compliance software at the push of a button.

Datasheet: Tax Reporting in Oracle Cloud EPM (PDF)

Country-by-country reporting

Automatically populate country-by-country data

Automatically fill in the country-by-country reporting (CbCR) template directly from your ERP or financial consolidation systems. Provide complete transparency back to the source financial numbers.

Analyze tax data

Leverage dashboards that include pre-built key performance indicators (KPIs) for typical audit flags such as revenue by employee and return on equity.

Prepare locally, collaborate globally

The corporate tax group can collaborate on local files with users around the world by incorporating tax reporting details into Oracle Cloud EPM Narrative Reporting.

Improve tax processes

Automate with tax schedules

Completely automate processes that usually use spreadsheets with the tax schedule capability. Data collection, calculation, and analysis can all be automated, including supporting work papers for tax provision, tax compliance, research and development (R&D) credit, uncertain tax positions, and any tax data.

Track performance with dashboards

Maintain a tax calendar with important dates and workflow for key business processes in corporate tax (for example audit management, tax provision, country-by-country reporting, tax compliance, and more). View the status of the tax close process at any time.

Meet critical deadlines

Monitor tasks around the globe and identify process bottlenecks between resources and systems. View tasks across numerous attributes, including status due date, priority, task owner, task reviewer, task category, tax jurisdiction, tax year, and more.

Pillar Two

Manage OECD Pillar Two (Global Minimum Tax) requirements

Address the most significant change in global taxation by assessing Pillar Two top-up tax liability. The solution provides end-to-end capabilities for top-up tax calculations, including Global Anti-Base Erosion (GloBE) Rules, covered tax, effective tax rate reconciliation, and tax liability determination.

Automate data collection from any source system beyond the general ledger

Minimize the burden of broad tax function data requirements and delays to the financial close process and automatically collect data from various source systems such as ERP, subledgers, financial consolidation, HR, tax provision, and CbCR.

Ensure cross-enterprise collaboration

Reduce the impact of the new requirements across the enterprise by ensuring seamless collaboration between tax, finance, and other operational areas with Task Manager, which can assign and monitor tasks from a central dashboard. Additionally, Oracle Cloud EPM can serve as a single book of record across the tax department, the controller’s organization, and FP&A, delivering greater efficiency and accuracy.

Forecast future financial impacts

Prepare for the new realities of the global minimum tax and model its future impacts by leveraging world-class calculation and reporting capabilities. Tax users can also copy Pillar Two data to forecast scenarios for end-to-end modeling.

Datasheet: Pillar Two in Oracle Cloud EPM (PDF)
Take a tour: Cloud EPM Tax Reporting - Pillar Two overview