THE CHALLENGE

Based on the OECD agreement, The Ministry of Finance ́s mission was to invest in a full digital solution within a short period to ensure compliance with the newly introduced Country-by-Country (CbCR) reporting regulations that are part of the OECD agreement, which aims to ensure a more transparent tax environment. Sparse data and the lack of a single, secure digital framework to execute the different phases of the CbCR Reporting processes was an additional challenge.

THE SOLUTION

cBrain's solution is the standard configured F2, integrated with a self-service, which includes:

• A solution to import the existing notifications generated by the interim notification solution into the new system.

• Self-service web forms integrated with the ministry's website to notify the ministry and upload documentary evidence for tax compliance.

• An integration with the Captcha tool to be able to differentiate between real users and automated users.

• A Task Guide (checklist) to automate the processes for case revision of notifications submitted via self-service.

• The creation of a search template to display all information for users.

THE BENEFITS

The CbCR implementation allows for:

• Enforcing regulations and implementing a completely digital notification submission process (and reporting at a later stage). This way, the ministry ensures compliance with the new regulations based on the OECD/G20 Inclusive Framework on BEPS.

• The creation of a simple and effective digital solution that is used to update the party registry with the relevant contact information via a checklist, ensuring that the companies receive a reply (receipt) once they submit their details via the self-service web form, and thus can avoid getting a fine.

• Easing the processing work, saving time and making reporting easier by using a digital dashboard giving an overview of all notifications received by companies that have to report to the Ministry of Finance.

• MNEs (multinational companies) can easily notify the International Department at the Ministry (CbCR) about their business activities.