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BASF France optimizes group tax consolidation with Dièse Finance’s Webtaxes platform

15/06/2011

Dièse Finance, the premier provider of SaaS tax solutions, announced today that BASF France, a subsidiary of the global leader in the chemicals industry, is using the Webtaxes platform to manage its corporate income tax reporting and group tax consolidation process in France.

A single platform for corporate income tax reporting and consolidation
Following the extension of its scope of tax consolidation, BASF France decided to deploy a single, centralized SaaS solution to unify its tax management system.

Accessible by all of the group’s French companies using a Web browser, this tax platform allows each subsidiary to produce income tax reports and transfer consolidated reports to the parent company through a fluid and secure process.

“Due to the distances between our facilities and our heterogeneous tax applications, we were having a lot of trouble producing consolidated income tax reports. So we were apprehensive about handling the acquisition of five new companies. With Webtaxes, we got rid of time-consuming data reporting and compilation processes. Webtaxes lets us manage corporate income tax reporting from our subsidiaries in real time in full compliance with the group’s internal security procedures” explains Gaël Hiblot, BASF France’s Chief Financial Officer. “Webtaxes has really improved our workflow. We are very satisfied with the application and our employees have taken to it really quickly.”

Collaborative, secure tax consolidation
BASF France has used Webtaxes’ workflow engine to set up the following process:

  • Entry and production by subsidiaries of corporate income tax and consolidated tax reports
  • Validation of income tax reports by Group tax department
  • Production of parent consolidated tax report by Group accounting department
  • Validation by Group chief financial officer
  • E-filing of corporate income tax and consolidated tax reports

“The example of BASF is a good illustration of the power of Webtaxes” says Dièse Finance CEO Benoît Gibert. “Because time constraints are tight, BASF France’s chief financial officer wanted a flexible tool that could be rolled out rapidly without using up in-house IT resources. And given the large number of users (about 20), it was vital to be able to handle corporate income tax and consolidated tax reports with a single tool, and above all to optimize the BASF group’s internal validation processes.”

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