Taxable Employee Benefits (TEB) can be complex to manage and maintain, making it difficult for companies to remain compliant and ahead of the taxation game. However, with the right partnerships and technologies, TEB can be transformed from admin burden to business benefit – especially if you are supported throughout your implementation and ongoing management.
These are just two of the reasons why Blue dot has collaborated with one of the ‘Big Four’ accounting firms, KPMG Germany, to build a TEB platform that not only streamlines the process but improves ongoing operation.
As one of the leading advisory firms in Germany, KPMG offers audit, tax, consulting and deal advisory services to its clients and these qualities make it the ideal partner for Blue dot. It’s a strategic step that allows for KPMG Germany clients to use Blue dot’s TEB solution to speed up their financial processes and stay ahead of their tax compliance, with the professional support of KPMG on its implementation, configuration options for VAT reimbursement and Employment Tax purposes, and as managed services for control and compliance. This solution is reliable and accurate and leverages automation capabilities to remove some of the sticky points that traditionally take up time and add complexity to TEB management.
This directly meets a challenge facing German companies.
Private German organizations have to remain absolutely vigilant when it comes to tax reporting and analysis. Changing tax regulations within one of the largest economies in Europe means that companies operating within this jurisdiction have to be quick to adapt and aware of what any changes may mean for their employees and their taxes.
By creating a solution that leverages the expertise of KPMG Germany with the functionalities of Blue dot’s TEB platform, companies can now gain greater control alongside smart support. Blue dot uses artificial intelligence to automate, detect and refine its TEB platform, which makes it easy to catch mistakes, improve processes and streamline previously tedious manual tasks. KPMG Germany, on the other hand, has deep local tax and market expertise that can be applied alongside the TEB solution to ensure that every box is ticked, every mandate achieved, and compliance is 100%.
This level of compliance cannot be understated.
An alliance with two of the leaders in tax expertise solutions and support means that companies can ratchet their stress levels down by several notches. Non-compliance, particularly when it comes to taxation law and regulations, is an expensive mistake to make. It’s also an easy one to make if your team doesn’t have the capacity to adapt to, or find out about, changes that could impact your company. It makes sense, both financially and reputationally, to leverage external expertise that supports your internal teams and ensures ongoing compliance.
Blue dot has a wide range of direct native integrations with multiple expense platforms that simplify connecting to other data sources and the entire compliance process. Your business can tap into these plug-ins and solutions while benefitting from KPMG Germany’s local knowledge and build a rigorous TEB process that bypasses all the problems.