Taxtimbre and The Resource bundle tax and transfer pricing offerings

08 February 2019 Consultancy.eu

Taxtimbre, a specialist firm in tax consulting and automation, has joined forces with the tax automation arm of The Resource. “By combining our knowledge and experience, we can help organisations create a smooth and effective tax end-to-end process,” explained Roelf Kloen, a partner at The Resource.

Both Netherlands-based firms are dedicated to the tax domain. Founded last year, Taxtimbre supports clients with an tax consulting en transfer pricing. The firm was launched by financial consultancy Finext after it acquired the tax and transfer pricing wing of Tytho (the other part of the company was picked up by Deloitte). Taxtimbre is led by Monica Erasmus, who previously served PwC for 21 years, and Benno van Ingen, who leads the venture on behalf of Finext.

Amsterdam-based The Resource was founded with a similar mission. The firm helps its clients improve the effectiveness of their tax function, by providing a suite of consultancy, compliance, execution and technology services. The joining of forces enables the firm to work with like-minded professionals, said Kloen. “The combination of our business with that of Taxtimbre enables us to work closely together with specialists in the transfer pricing and technology fields.” Erasmus added, “By bringing our experts together, the stage is set to help companies transform their tax process.”

Taxtimbre and The Resource bundle tax and transfer pricing offerings

As part of their joint-venture, the two firms will bundle their tax automation offerings and go-to-market under the Taxtimbre banner. Main focus area of the venture will be on tax technology, an area which according to partners of both firms is set to disrupt the mainstream approach in the tax landscape. Similar to how technology is changing the make-up of the finance or accounting industry, among others  emerging technologies are providing tax professionals with a who new set of opportunities. Robots are increasingly able to automate mundane tasks, tax-crafted algorithms are allowing for enhanced tax reporting, while digitised process control facilitate improved regulatory compliance.

“Automating tax processes reduces the workload, which allows for more time being spent on more valuable tasks, and supports factual decision making,” summarised Van Ingen.

The potential for opportunity becomes even more apparent against tax’s changing backdrop. Mounting complexity in tax reporting requirements, a growing call by executives and other stakeholders for more transparency and changing ways of working (e.g. tax authorities) mean that tax functions are more than ever feeling the heat. “In addition to becoming more demanding, tax reporting is also getting more and more entwined with finance. Connecting tax, finance and IT is essential for the next step in tax reporting,” remarked Patrick van Gerven, a partner at The Resource.

Under their joint banner, the newly-wed partners believe they have what it takes to provide an “integrated and end-to-end” solution. “We are ideally positioned to play an active role in the tax transformation process,” said Erasmus. “We support with tax and transfer pricing tool implementations, and advise on tool selection and the integration between the various systems used within an organisation, such as ERP or EPM systems.” 

The good news, according to Erasmus, is that companies are starting to spot the potential that can be unlocked through digitisation. “Just two to three years ago, tax automation within direct taxes was very incidental, but companies have started with real efforts to transform from silo departments to integrated business processes.”

Related: Europe home to 6 of the globe’s top 10 tax havens.

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