Overview

Part 1. Overview of US International Tax Solutions

  1. Solutions by Content

    • Foreign-Source Income

      • Sub F, GILTI, FDII, BEAT, Dividends

      • 956, 861, 163(j), FTC


2. Modeling Features

    • Entity Chart Visual Modeling

    • Scenario-Based Modeling

    • What-if Modeling

    • Repatriation Modeling

International Tax Calculator Overview Video

Part 2. Software At-A-Glance

Home



Ribbon:

  1. Home

  2. Entity Chart

  3. Transactions

  4. Calculator

Box:

  1. File Box

  2. Slide Box

  3. Feedback Box

  4. Help Box

Calculator

Data Extractor



File Bar:

    1. Preview

    2. Load Data

    3. Map Entities

    4. Map Accounts

    5. Other Inputs

    6. Review&Result

Sidebar:

    1. Process Steps

    2. Load Data

    3. ITC Templates


Part 3. Do you know?

ITC has standard P&L accounts

ITC has fixed accounts by income and expense for all entities.

  1. 13 Gross Income Accounts

      • Gross Sales, COGS, Interest Inc, RP Interest Inc, Dividend Income Input, Royalty Inc, PR Royalty Inc, Rental Inc, Gain / Loss - Capital Assets, Gain / Loss - Marketable Securities, Currency G/L, Other Income, Other I/C

  2. 6 Pre-Tax Expense Accounts

      • RP Int Exp, Interest Exp, R&D Exp, Roy Exp, Taxes (non-income), Other Expense

  3. 3 Tax Expense Accounts

      • Foreign Income Tax Expense, Non-Div WHT Received, Div WHT Received

ITC uses the natural sign convention for P&L accounts

ITC can also convert 2 other sign convention automatically depending on the type of accounts and sign convention

  1. Natural Sign

      • No sign convention)

  2. DR / CR ITC

      • converts the sign for income accounts uploaded

  3. Income Positive / Expense Negative

      • ITC converts the sign for expense accounts uploaded

ITC has different ways of data input

  • Input: data will be manually typed or copy/past

  • Upload: data will be imported into Calculator via upload templates in Data Extractor

ITC has different color legends in Input Folder

  1. Grey

    • system calculated fields (e.g. total, subtotal)

    • entity data imported from entity chart

  2. Green

    • assumptions (Toggle) with drop down menu

    • override default value without drop down menu

  3. Yellow

    • data input

ITC is an excel friendly software

  • Excel formats (color, bold, etc) of your desktop work paper will be also available after uploading via templates

  • Drill-down links, calculation rules and explanations are available in Reports

ITC has excel shortcuts available

  1. Ctrl + C / V / X: copy, paste and cut

  2. Ctrl + A: select all

  3. Ctrl + F: find in values / formulas

  4. Ctrl + Arrow Left / Right: go to next cell with value

  5. F5: Go to recent navigation

  6. Ctrl-Mouse Scroll: Zoom in / out ITC screen

ITC provides Tax Regulation citations

  • Each calculation has explanatory links to International Tax Code & Regulation sections in CHECKPOINT


ITC is trying to help with your data transformation

  • Let ITC handle data transformation for getting the ITC template ready to upload

  • You may focus on data quality review

  • Check out details at page Get Automated


Quick Links: