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CCH Integrator™ New Zealand GST Module Helps Address Annual Over Payment of GST by NZ Corporations
 
Intuitive and fully adaptable software module introduces automated analytics needed to generate a more streamlined process and greater assurance over GST data

Auckland, 18 March 2014 – Following its successful launch in Singapore and Australia, CCH, a part of Wolters Kluwer and global leader in tax, accounting and audit information, software and services for professionals today rolled out its latest addition to its CCH Integrator™ portfolio in New Zealand. The CCH Integrator™ New Zealand GST module is the country’s first  all-in-one, cloud-based GST Compliance, Reporting and Data Analysis module that has been tailor made specifically to meet the needs of New Zealand business.

The module can be deployed quickly to fully automate the preparation of GST returns and when used in conjunction with the powerful CCH Integrator™ platform can verify the data being processed. When used as a fully integrated module within the CCH Integrator™ platform it becomes part of a larger solution that is readily adaptable to all international and domestic GST and VAT environments. The CCH Integrator™ New Zealand GST module can also be used as a stand-alone solution.
 
Implemented within 1 to 2 weeks, the CCH Integrator™ New Zealand GST module replaces Excel spreadsheets and multiple systems for different tax operations. It relies on central cloud-based access to one set of data for streamlined collaboration and enhanced levels of assurance for compliance purposes. With risk frameworks for GST that can be extended to incorporate client-specific business processes embedded into the system, robust compliance processes are assured. This specialist GST risk management solution has the potential to considerably reduce compliance costs for organisations as well as presenting cash tax savings and increased confidence over taxes paid.
 
What’s New:
  • Best Functions ‒ integrates General Ledger and transaction files for GST computation with audit trail limits and user traceability 

  • Best Compliance ‒ automates calculations, reduces processing time, responds quickly to rule changes and reduces rework computations when compared to Excel spreadsheets

  • Best Results ‒ assurance on accuracy of GST declarations, improved internal controls from returns to source data, flexible exception checks increases accuracy

  • Best Practice ‒ implement superior GST practices on internal controls and processes, assesses qualification and compliance for specific GST schemes, reduce risk of penalties, mitigate risks on transaction and GST reporting levels

  • Complements CCH Integrator™ platform or can be used as a stand-alone solution.

Managing Director of CCH Corporate Reporting Solutions, Peter Boyle said the launch of the CCH Integrator™ New Zealand GST module would address the three major concerns for compliance and reporting locally.
 
“Major corporates in New Zealand are very vocal about three major challenges ‒ the issues resulting from the over reliance on Excel spreadsheets, the lack of a streamlined process for reporting and compliance and the lack of assurance of the underlying numbers.
 
“The CCH Integrator™ New Zealand GST module puts the control over data, accuracy and compliance back into the hands of the tax and finance teams, allowing corporate taxpayers to better understand the process and avoid potential penalties,” Boyle explained.  
 
To view a demonstration of the powerful capabilities of CCH’s next breed GST risk management solution, click here for more information.
 
/Ends

For more information, please contact:
 
Greg Conway
Corporate Communications Manager, Wolters Kluwer Asia Pacific
T: +61 2 9857 1886 | Mb. +61 (0)408 290 412 | greg.conway@cch.com.au
 
About CCH, a part of Wolters Kluwer
CCH, a part of Wolters Kluwer (www.cch.com.au) is a leading global provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913 globally and in Australia since 1968. Among its market-leading solutions are CCH iFirm™, CCH® IntelliConnect®, The ProSystem fx® Suite, CCH Capital Gains Tax Reporter® and the CCH Australian Master Tax Guide®. CCH Australia is based in North Ryde, Sydney. Follow us on Twitter @cchaustralia. Wolters Kluwer (www.wolterskluwer.com) is a market-leading global information services company. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.
 
Forward-looking Statements
This press release contains forward-looking statements. These statements may be identified by words such as “expect,” “should,” “could,” “shall,” and similar expressions. Wolters Kluwer cautions that such forward-looking statements are qualified by certain risks and uncertainties that could cause actual results and events to differ materially from what is contemplated by the forward-looking statements. Factors which could cause actual results to differ from these forward-looking statements may include, without limitation, general economic conditions; conditions in the markets in which Wolters Kluwer is engaged; behaviour of customers, suppliers, and competitors; technological developments; the implementation and execution of new ICT systems or outsourcing; and legal, tax, and regulatory rules affecting Wolters Kluwer’s businesses, as well as risks related to mergers, acquisitions, and divestments. In addition, financial risks such as currency movements, interest rate fluctuations, liquidity, and credit risks could influence future results. The foregoing list of factors should not be construed as exhaustive. Wolters Kluwer disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
 
 
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