Note from SFS LT Nominator 

Dear Bob, Tom, Alex, and Franco, 

In recognition of the productivity gains achieved by aligning PMI’s US income tax provision & compliance processes, I have nominated your project team for the SFS Co-Pilot Team Award.  It is no exaggeration that US tax compliance is more complex & burdensome than any other jurisdiction in the world.  As a result of your ongoing efforts, PMI now truly has one aligned process, utilizing multiple technology solutions.  We have already seen these enhancements in action helping PMI navigate through the many US tax law and regulatory changes in recent years.  We look forward to seeing these efficiencies pushed to affiliates supporting US tax compliance in the markets, enabling these resources to free up and focus on co-piloting the business.    

Thanks again and keep up the great work!  

Werner

Project Introduction 

Soon after US tax reform was enacted at the end of 2017, Bob Pesavento, Tom Lane, Franco Minotti, and Alexander Douglas embarked on a US tax transformation journey to better align certain US tax processes, staying ahead of the rapidly changing US tax laws and regulations, and putting PMI Tax in a better position to deal more generally with PMI’s business and finance transformations.  

One of PMI Tax’s biggest opportunities for productivity gains was in aligning its US income tax provision & compliance processes, which have always worked in parallel, but historically used different tools and even separate teams in working towards the same goal of calculating PMI’s US tax liability.   

Project Detail & Value Proposition  

PMI’s US federal consolidated tax return includes not only it’s US subsidiaries but all subsidiaries worldwide.  If printed, it would exceed 5,000 pages!  We have maximized efficiency by using all aspects of Corptax (PMI’s US tax system) to import and consolidate data, run computations, produce forms and electronically file PMI’s US federal and state tax returns. 

On the technology side, we used Visual Basic to record Macros in Excel to run and download GFRT queries.  Additionally, we used Power Query to automatically copy, transform and paste these reports in our income tax provision working papers.  Finally, using the same tools, we transmit all the information ready for Corptax.