TaxPay
TaxPay Services for Businesses and Partners
Managing tax settlements across multiple jurisdictions is complex and time-sensitive. With evolving regulations, local requirements, currency exchanges, and the need for timely payments, businesses and their compliance partners face increasing challenges.
TaxPay simplifies international tax settlement with expert knowledge, a global network, and a robust platform designed to handle even the most demanding tax obligations. Explore how our solutions can address your challenges and streamline your tax payments worldwide.
Common Challenges in International Tax Settlement. How TaxPay Solves Them
Can you identify these challenges in your organization? See how TaxPay’s solutions can transform your tax settlement process.
Challenge: Expanding Tax Obligations Across Jurisdictions
For Businesses: Multinational companies face increased complexity in tax settlements due to new regulations and additional jurisdictions.
TaxPay Solution:
Leverage our platform, expert knowledge, and local Tax Authority contacts to simplify payments.
Pay to almost any country and currency, including complex jurisdictions like India, Italy, Romania, Serbia, and Slovakia.
Challenge: High Risk of Payment Errors
For Businesses: Errors in tax payments can lead to fines, penalties, and reputational damage.
TaxPay Solution:
Robust reporting and user access controls: Ensure safe and compliant payment processing
Workflow functionality: Secure and track payments by role and seniority.
Challenge: Local Requirements for Tax Settlement
For Businesses: Navigating specific local payment rules is arduous and error prone - often they are unable to open local accounts.
TaxPay Solution:
Technology-enabled managed service with local expertise to streamline compliance.
Ensures payments are made in the correct format with accurate references
Challenge: Labour-Intensive and Costly Processes
For Businesses: Understaffed tax & finance teams struggle to manage tax settlements efficiently.
TaxPay Solution:
Automation and expert support: Optimize the process and reduce costs with our managed service
Outsourced payment team: Rely on our experts to manage your tax payments
Challenge: Timing Issues Between Tax, Finance, and Treasury Teams
For Businesses: Delays in coordinating payments lead to stress, fines, and manual workarounds.
TaxPay Solution:
Prefunding and faster payments via local accounts, aligning with existing treasury systems and payment cycles.
Timely settlements: Avoid fines and manual exceptions by submitting payments on time.
Challenge: Lack of Visibility Across Multiple Countries or Entities
For Businesses: Gaining a comprehensive view of tax settlements globally is a struggle - especially across entities.
TaxPay Solution:
Centralized dashboard: Access past, current, and future payments for all entities.
Searchable tax statements: Role-based access to detailed tax-specific information.
Compliance Partner?
TaxPay works seamlessly with your existing compliance provider and processes. Approve your return once with automated payment creation.
Technology Provider?
Integration options to major Technology providers, integrates to Desucla Submission services to support submit & settle workflows.
TaxPay Service Levels: Multiple Options to Fit Your Needs
1. Self-Managed
For businesses that prefer to manage tax settlements in-house
Includes onboarding, training, and ongoing support to empower your team.
2. Service-Managed
An outsourced settlement service integrating with your current providers and processes.
End-to-end management: From onboarding to settlement and reporting. Ideal for companies seeking to reduce workload and mitigate risks.
Challenge: Timing and Communication Gaps
For Partners: Ensuring seamless communication between your team and clients is challenging - squeezed compliance timelines to support client treasury workflows.
TaxPay Solution:
Dual access for both compliance providers and their clients on TaxPay
Flexible settlement requests: Compliance providers can set up requests for clients to authorize, improving coordination.
Drives operational efficiency in outsourced compliance processes
Challenge: Expanding Tax Obligations Across Jurisdictions
For Businesses: Multinational companies face increased complexity in tax settlements due to new regulations and additional jurisdictions.
TaxPay Solution:
Leverage our platform, expert knowledge, and local Tax Authority contacts to simplify payments.
Pay to almost any country and currency, including complex jurisdictions like India, Italy, Romania, Serbia, and Slovakia.
Challenge: Timing and Communication Gaps
For Partners: Ensuring seamless communication between compliance providers and clients is challenging.
TaxPay Solution:
Dual access for both compliance providers and their clients on TaxPay
Flexible settlement requests: Compliance providers can set up requests for clients to authorize, improving coordination.
Drives operational efficiency in outsourced compliance processes
Challenge: Timing Issues Between Tax, Finance, and Treasury Teams
For Businesses: Delays in coordinating payments lead to stress, fines, and manual workarounds.
TaxPay Solution:
Prefunding and faster payments via local accounts, aligning with existing treasury systems and payment cycles.
Timely settlements: Avoid fines and manual exceptions by submitting payments on time.
Challenge: Local Requirements for Tax Settlement
For Businesses: Navigating specific local payment rules is arduous and error prone.
TaxPay Solution:
Technology-enabled managed service with local expertise to streamline compliance.
Ensures payments are made in the correct format with accurate references
Challenge: Labour-Intensive and Costly Processes
For Businesses: Understaffed finance teams struggle to manage tax settlements efficiently.
TaxPay Solution:
Automation and expert support: Optimize the process and reduce costs with our managed service
Outsourced payment team: Rely on our experts to manage your tax payments
Challenge: High Risk of Payment Errors
For Businesses: Errors in tax payments can lead to fines, penalties, and reputational damage.
TaxPay Solution:
Robust reporting and user access controls: Ensure safe and compliant payment processing
Workflow functionality: Secure and track payments by role and seniority.
Challenge: Lack of Visibility Across Multiple Countries
For Businesses: Gaining a comprehensive view of tax settlements globally is a struggle.
TaxPay Solution:
Centralized dashboard: Access past, current, and future payments for all entities.
Searchable tax statements: Role-based access to detailed tax-specific information.
TaxPay Service Levels: Choose What Fits Your Needs
1. Self-Managed
For businesses that prefer to manage tax settlements in-house
Includes onboarding, training, and ongoing support to empower your team.
2. TaxPay-Managed
An outsourced settlement service integrating with your current providers and processes.
End-to-end management: From onboarding to settlement and reporting. Ideal for companies seeking to reduce workload and mitigate risks.
Strong Banking Partnerships and Network
Access our global banking partners for seamless cross-border payments.
Ensure payments are delivered in full, on time, and compliant with local regulations.
A Typical TaxPay Workflow
1. Onboarding
Frictionless and quick: Work directly with your team or compliance partner for setup.
Payment Templates: Payment templates created and aligned based off existing liability settlement templates.
2. Funding
Aligned with your payment runs: Simplify processes with consistent payment references.
Prefunding: Ensures timely payments without last-minute rushes.
3. Settling Liabilities
Integrated workflow: Matches your return approval process with pre-set payment calendars.
Local Routes: Optimized for each country and tax type
4. Settlement Workflow
Automated and compliant: Ensures correct references and formats for each jurisdiction.
Local expertise: Facilitates smooth transactions even in challenging regions.
5. Oversight
Local expertise: Facilitates smooth transactions even in challenging regions.
Real-time updates: Access confirmations and track settlement statuses instantly.
Centralized reporting: Comprehensive visibility of all tax payments
TaxPay-Managed Service: Who Does What?
1. Onboarding
TaxPay Team: Loads payment templates, aligns payment runs, onboards users, and provides training.
You / Your Compliance Partner: Provides payment liability details and agrees on payment calendar cycles.
2. Compliance Cycle (Managed)
You or Your Compliance Partner: Shares liability details with TaxPay Team
TaxPay Team: Loads payment instances, batches payments, and initiates transfer requests.
You: Send a local payment to your TaxPay account.
TaxPay Team: Initiates transfers, manages local payments workflows, addresses queries, and ensures compliance with local regulations.
Why Choose TaxPay?
Comprehensive Coverage: Pay to almost any country and in any currencies.
Cost Efficiency: Reduce costs by reduced effort and local infrastructure needs.
Compliance Assurance: Built-in compliance checks to avoid fines and penalties.
Expert Support: A team of tax and payments experts to handle complexities.
