Introduction to Tax Reporting Cloud Service Public Tax Provision and CbCR Quick Tour Question: Where can I get a quick functional tour or an introduction to TRCS Tax Reporting Cloud Service? Question: What are the use cases for Tax Provision and Country by Country Reporting (CbCR) for TRCS Tax Reporting Cloud Service? Maria Jones is the Financial Tax Manager of Vision Corporation. Vision is currently in the process of the year-end close and preparing the Country by Country Reporting Filing. Oracle Tax Reporting Cloud Service provides out-of-the-box reporting for Country by Country Reporting (CbCR), the tax provision, and provides a general platform for process improvement for the corporate tax function. Michel Schoolenaar Senior Principal Product Manager Gevorg Abrahamian Director, Product Management September, 2017

On her home page, Maria can quickly see the status of her tasks On her home page, Maria can quickly see the status of her tasks. She also has the ability to quickly navigate to areas such as her Country by Country Reports, operational dashboards, national and regional tax packages. Before Maria tackles her open tasks she wants to get an overview on how the Country by Country Reporting close is progressing by looking at the Operations side of the process. She opens the Operations card and selects the Overview.

On the Overview dashboard, Maria can get a glimpse of the number of tasks that are late, open and completed. Maria can drill down and view the detail behind the metrics by clicking on the interactive bar and pie charts. Maria sees there are 11 incomplete tax closing tasks.

She can quickly see which 11 tasks are still incomplete She can quickly see which 11 tasks are still incomplete. If Maria wanted to view the details of a single task she could click on the task to view additional details.

Maria can also see more details about the Country by Country close completion process on the Compliance Dashboard. She sees Frank has 3 late tasks and has only completed 2 on time and with 1 rejection. She also notices that she has 9 tasks, but still on time. She will need to complete these tasks on time so she doesn’t hold up the Country by Country Reporting close process. Before she reviews those tasks, Maria wants to review how the rest of the process is progressing. Maria can hone in on specific areas by drilling further into this dashboard. She sees there has been 1 rejected task and wants to investigate which task was rejected.

By clicking on the rejected tasks donut she can see that the 'Enter CbCR Table 1' task was rejected, she can zoom in to the history of the task, who did what and when. Maria can review other areas on her compliance dashboard and drill into the tasks to obtain further information. As of now, Maria knows that the tax accountants are busy completing their tasks and the metrics will continue to change. She can revisit this dashboard anytime during the process to receive real time metrics about the tax closing process.

Maria now wants to review the Country by Country Table 1 details for the group. This overview is part of the Summary.

Maria can review all data reported by all entities within the organization, summarized by Jurisdiction. If she would like to see which entities belong to each of the jurisdictions, Maria can open the 'Table 1 Detail by Jurisdiction' to see this detail. All this data can be reviewed in the reporting currency of the group, which is in this case USD, or in any of the other reporting currencies within the application.

Before Maria signs off for all the Country by Country reporting data, she would like to make sure that there are no surprises for the organization. Therefore, Maria will use the Risk Assessment dashboards to analyze all reported data. She can see here the Total Revenues per employee, in a Year over Year view, and as a trend. All graphs are interactive and she can drill in to the details. Tax authorities will also do a similar analysis, to identify spikes in trends, and she would like to see if that is the case. Maria will now analyze the Revenue per Employee in more detail.

Maria has expanded the Total Revenues per employee Year over Year graph and she drilled into the North America region. She identifies that the Education Ltd entity has a significant higher total revenue per employee compared to the other entities that are part of North America. This spike also occurred last year, and she understands the reason for this spike. She notes this down to ensure this will also be explained in the local file.

Maria is now almost ready for the submission to the tax authorities, and she will now complete the Document specifications per jurisdiction. For each jurisdiction she has to provide what data the tax authorities will receive, being either New Data, Corrected Data, Deletion of Data, or test data. She adds references as well, to be able to keep track of this information, for a easier identification when required. All this information has to be submitted to the tax authorities by jurisdiction, as stated in the OECD XML template guidelines. Maria has now completed all the required and voluntary information as provided in the XML template and she wants to submit the data to the local tax authorities. She clicks on the 'Publish XML' link and the XML file is created. Maria opens the zip file that has been created by pressing the 'Publish XML' button. The zip file contains at least one file, the xml output file, and in the event of any errors during the creation process, the zip file can also contain a log file including the issues that were identified. She didn’t have any issues, so she just opens the XML file to validate that the information is all in the XML file. She will now logon to the portal of the tax authority and upload this file. After submission, she and the team can continue to work on the local al master files, the narratives.

Maria can now start reviewing her part of the Country by Country report. She prepared parts of the document, and the report is now under review. On her home page, Maria can quickly see the status of her tasks. She also has the ability to quickly navigate to areas such as her Report Packages, Reports and tasks. Maria will now have a look at all her messages, and she can have a look at her incomplete tasks.

Maria opens her messages and gets an overview of all her messages where she has to take action. She sees that she needs to review the Country by Country Report (FY16) and opens this report to review it. She is already late, so she will take immediate action on this to avoid delaying the review process any further.

Maria is taken to the Country by Country Report that she has to complete. Maria is responsible for the review of the Master File section of the Country by Country Report. She can view the document structure and see the progress and owner of each section.

Maria would like to see all comments made in the first review cycle and sees that no comments were made for her sections. She can preview the entire Country by Country report, to see how the entire document looks. She goes to the Table 1 details by Jurisdiction. This table is embedded in the report, which ensures that any changes made to the table 1 data in TRCS are also reflected here. She knows that she is always looking at the most recent data.

Everyone who has contributed to the Country by Country report has marked their work as complete, Maria now marks the first review cycle as complete. For her own administration she also decides to download a preview of the report in PDF.

Oracle Tax Reporting Cloud Service provides out-of-the-box reporting for Country by Country Reporting (CbCR), the tax provision, and provides a general platform for process improvement for the corporate tax function.