business solutions

Wholesale distributors and transporters of refined petroleum products

Services Provided

Full indirect tax compliance outsourcing services including tax return preparation, exemption certificate management, general ledger reconciliation, customer setup and maintenance.

Background

The client required outsourcing services for indirect tax compliance and assistance with special projects such as amended returns, tax authority audits and account reconciliation.

Approach

  • Determined client’s business operations.
  • Applied taxing jurisdiction requirements to business operations of client.
  • Reviewed client’s current tax compliance process and technology needs. Identified approach for improvement.
  • Confirmed scope with client.
  • Provided detailed work plan to client.
  • Agreed on TASG’s and client’s roles and responsibilities.
  • Assigned project tasks to staffs with appropriate level of experience.
  • Monitored tax rate and law changes and updated accounting systems to support indirect tax laws and regulations.

Results

  • Successfully met the client’s outsourcing needs and improved overall compliance efficiency.
  • Effectively reduced the compliance outsourcing cost for the client by providing a highly efficient team with both US and Manila personnel.
  • Prepared amended returns for past two years due to correct prior tax filings.
  • Streamlined tax master data setup and maintenance process.
  • Created client customer account setup process and customer inquiry tax response process.