VantagePoint was designed by international tax advisors with decades of experience in assisting some of the world’s largest and most complex multinational corporations. It is agile enough to support planning and forecasting as tax laws or positions change, while still being comprehensive enough to fully support international tax provision, compliance and BEPS country-by-country (“CbC”) reporting.
The following features make VantagePoint a premier global tax analytics platform.
Easy to Use for Tax Planning and Forecasting
VantagePoint was specifically designed to facilitate “what-if” planning and forecasting. It includes a Scenario Comparison report to compare any number of alternative structures and tax positions. Planning Wizards for Transfer Pricing, Repatriation, and APB 23 Alternatives are an integral component of the platform. The impact of changes to the global allocation of revenue, profits and taxes are automatically reflected in the effective tax rate report by entity or country-by-country.
Dynamic Legal Structure
VantagePoint supports the full range of U.S. international tax computations regardless of the sophistication of the client’s legal/tax structure, including partnerships with special allocations and hybrid entities. It also tracks organizational and entity classification over time – acting much like a corporate secretary system for tax. The software also allows the creation of entity groups such as the financial reporting group and the tax filing group.
Single Multipurpose Database
VantagePoint utilizes a single database to support tax planning, forecasting, provision and tax compliance. Its global orientation also facilitates BEPS CbC reporting. It supports multiple tax years and periods within years across multiple jurisdictions. This single database concept, supporting both book and tax, is crucial to maintaining data integrity because all computations can be traced back to a single data source. It eliminates the potential for error resulting from disparate sources and results in greater efficiency.
Develops and Maintains Tax Attributes
Tax attributes must be fully accounted for when undertaking any tax planning, especially in the international tax context. Monetization of favorable tax attributes such as foreign tax credits, net operating losses, and overall domestic losses produce cash and a lower global effective tax rate. VantagePoint develops and maintains these attributes as well as earnings and profits and tax and book basis of assets such as the investment in subsidiaries.
Interfaces with Excel
Excel is an extremely powerful and useful tool used extensively by tax and financial analysts. VantagePoint interfaces directly with Excel, making it easy to move information between the two platforms. Excel also serves as an ideal conduit for detailed financial data as virtually all ERP and financial reporting systems have established connections with Excel.