Vertex® Income Tax Compliance - International

Vertex Income Tax - International moves at the speed of international business. For U.S. headquartered companies, simplify the complexities of filing for foreign entities. Quickly handle the challenges of reporting tax information across different time zones and taxing systems. Plan with the security of knowing that even amid changing entity structures, tax data is accurate.

Benefits

Increases the accuracy of foreign reporting by automating the sourcing of non-U.S. income
Reduces manual steps increasing accuracy and consistency by utilising a sourcing template methodology
Simplifies determining the tax implications of foreign source income by tracking historical earnings and profits and foreign tax credits
Executes ownership and tier calculations for foreign income inclusions, return of capital, and tax credits
Integrates 1120 trial balance data for 1118 sourcing
Manages sourcing of related party transactions
Substantiates tax positions by creating a comprehensive audit trail
Automates e-file transmissions
Creates M-3 adjustments for U.S. corporations

Features

Navigation and workflow are designed specifically to support the needs of the Tax Department
Includes a library of over 300 reports that can be saved to Microsoft® Excel® and customised
Maintains historical earnings and profits (E&P) and foreign tax credits by year and statutory grouping
Automates look-through calculations for related party transactions and accurate income characteristics
Allows the proper sourcing of income and direct allocation of expenses to statutory and residual groupings based on flexible/customisable apportionment methods and basis (e.g., gross sales, gross profit and net sales)
Computes the applicable Subpart F, 956 and Section 78 gross up amounts for U.S. shareholders
Determines sourcing and country detail for income inclusions of foreign operations
Creates book/tax adjustments for deemed foreign income inclusions automatically.
Tracks dividends by foreign tax credit baskets for dividend recipients
Supports interest netting rules
Maintains excess foreign tax credits by year and baskets to be used for foreign tax credit carry back and carry forward
Automates the population of Forms 1118, 5471, 8858 and 8865
Solution can be used independent of U.S. compliance

Learn more about Vertex Income Tax - International (PDF) or contact us today.