Longview says its tax solution is intended to help insurers address the many tax challenges specific to the industry, including compliance with multiple statutory requirements, including GAAP and SSAP 10; the handling of unique complex, global tax calculations such as non-admissible deferred tax; and all required disclosures in accordance with FAS 109, CICA 3465 and IAS 12.
The solution is designed to streamline and automate tax provisioning, tax data collection and tax planning by employing best-of-breed data management and global collaboration capabilities. Using Longview's open technology, information is automatically collected from any source system, in any currency creating a single repository of tax information.
“Corporate tax departments in all industries share many of the same challenges and software needs,” says John Power, president, Longview Solutions. “Longview Tax is a proven comprehensive solution for insurance companies to seamlessly manage global tax accounting processes and improve transparency, efficiency, analysis and auditability.”
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