Cases

In 2008 and 2009 The Resource provided support to ASR Verzekeringen based in Utrecht in connection with the  ‘Fast Close’ project and with the implementation of a Tax Control Framework (TCF).

The goal of the  Fast Close project was to significantly accelerate the preparation and submission of the quarterly- and annual results. Such acceleration has important consequences for the working methods of the Tax Department and the delivery timeframe of the tax figures. ASR Verzekeringen hired an experienced interim tax manager from The Resource to manage this process.

Purpose of  assignment

Purpose of the assignment was to realize the acceleration of submission of the tax figures within shorter deadlines, with the available tax staffing and without any quality loss.

Activities

The interim tax manager of The Resource with special skills in change management and knowledge of general tax administrative processes acted as the project manager. In order to meet the targets that were set, it was decided, in close consultation with management of the Tax Department, to introduce a different work approach. The primary task was automation of the corporate income tax calculation (tax expense and current and deferred tax assets and liabilities) as much as possible. Finally, both  input (tax adjustments) and output (tax journal entries and tax disclosures) were automated. Through this optimization of the tax calculation model, valuable time is saved and the quality of the output has improved significantly.  Extra time is made available for additional controls and analyses. Hence, the project delivered more results than initially expected.      

The activities of the interim tax manager consisted of making an inventory of tasks and responsibilities of the Tax Department, review of existing processes, information and systems in connection to corporate income tax and dividend withholding tax. Additional controls and contingency plans were developed and implemented. The results of these activities formed the basis for the TCF which was also supported by The Resource.