Tax transparency is playing an increasingly important role in the obligations of large international companies. As European requirements for Public Country-by-Country Reporting (Public CbCR) evolve, multinational groups must now disclose more information about their activities and taxation in the different countries where they operate. To address these challenges, CCH Tagetik is strengthening its collaboration with CoreFiling around a solution dedicated to producing digital tax reports that comply with European requirements.
Named CCH Tagetik iXBRL Public CbCR powered by CoreFiling, this solution combines CCH Tagetik’s reporting and publishing capabilities with the iXBRL technology developed by CoreFiling. The aim is to facilitate the transition from tax data to publication in a structured digital format, while limiting manual intervention and the risk of inconsistencies.
From tax data processing to digital publication
Preparing a Public CbCR report is not limited to gathering tax information and presenting it in a document. It requires reliable data, consistent processes and sufficient traceability to control every step, from collecting the information through to its publication.
This is precisely the production chain addressed by the technological collaboration between the two software providers. CCH Tagetik provides its reporting and data management environment, while CoreFiling supplies the mechanisms required to generate documents in iXBRL format (Inline eXtensible Business Reporting Language).
This format makes it possible to retain a document that is readable by users while incorporating structured data that can be automatically processed by IT systems. It therefore meets the needs of digital publication for regulatory information.
Balancing compliance and presentation quality
Beyond the technical production of disclosures, the solution also makes it possible to create customised Public CbCR reports, with a graphic presentation consistent with the company’s identity.
This editorial dimension complements compliance requirements. Groups can therefore work simultaneously on structuring tax information, its digital presentation and the quality of the document intended for public disclosure.
For finance departments and tax teams, the challenge is to have a more controlled process, reduce manual tasks and strengthen the consistency of the information communicated.
A growing challenge for finance and tax departments
As transparency obligations expand, tax reporting is becoming an exercise that draws on the tax, financial and technological expertise of large organisations.
The collaboration between CCH Tagetik and CoreFiling illustrates this development: performance management and reporting tools are gradually extending to more specialised regulatory needs. The objective is no longer simply to produce financial statements or dashboards, but also to secure the transformation of data into structured, controlled and publishable information.
This development places data quality and process control at the heart of compliance challenges. These are two essential conditions for enabling multinationals to meet new expectations regarding tax transparency.
source: CCH Tagetik
