Deloitte Enhances Tax Reform Navigator Technology and Services

NEW YORK, Oct. 23, 2017 /PRNewswire/ -- Deloitte today launched new features to its Tax Reform Navigator tool that enhance how companies analyze and plan for existing and custom tax reform proposals. Debuted in July 2017, the Tax Reform Navigator is a state-of-the-art, web-based solution that, in tandem with Deloitte's tax reform advisory services, uses actual and projected financial data to provide a holistic view of how potential tax reform proposals are likely to impact a company.

"Amid the evolving outlook on tax reform, we continue to enhance our Tax Reform Navigator so that businesses have the confidence to make informed decisions," said Terri LaRae, partner and national leader of tax reform advisory services, Deloitte Tax LLP. "We strive to stay at the forefront of tax reform issues to prepare companies during these dynamic and uncertain times."

Enhancements to the tool include:

    --  Multiple customizations: Deloitte Tax can work with companies to create
        multiple custom proposals based on the existing provisions modeled out
        to understand the impact of different tax reform scenarios on their
        business. For example, it can analyze the various proposed corporate tax
        rates - 28, 25, 20 or 15 percent - while keeping all other elements
        static.
    --  Three-year outlook: Companies can analyze potential tax impacts up to
        three years beyond the current year by inputting anticipated future
        dollar amounts or anticipated growth percentages by year.
    --  Transition tax impact: Companies can model the anticipated result of the
        U.S. transitioning from its current worldwide tax system to a
        territorial tax system. This includes an analysis of how a proposed
        deemed repatriation of corporate profits subject to a one-time tax with
        differing rates for cash and equivalents versus other assets could
        impact their tax situations.
    --  Life insurance industry module: Insurance companies can accommodate
        scenarios involving changes to capitalization rates for deferred
        acquisition costs, changes to discount rates for computing life
        insurance reserves, modifications to the life proration rules,
        modifications to the separate account dividends received deduction, and
        proposed changes to the treatment of affiliated reinsurance. This
        customized module is based on the 1120-L tax return to address the
        unique taxation of life insurance companies and incorporate certain
        proposed tax legislation changes specific to the life insurance
        industry. Deloitte also is working on developing a module for property
        and casualty insurers.

An upcoming enhancement will include additional dashboards and at-a-glance reports illustrating the potential impact of tax reform on a particular taxpayer by using appropriate tax planning options as suggested by Deloitte's tax reform advisory professionals.

For more information on the tool and Deloitte's tax reform solutions, visit http://www.deloitte.com/us/en/pages/tax/solutions/tax-reform-navigator-services.html.

About Deloitte Tax LLP
Deloitte Tax helps clients lead the transformation of the tax function into a strategic partner that supports growth and sustained profitability within an organization. With deep experience across a broad range of services and industries, Deloitte Tax has more than 10,000 trusted advisors who combine their knowledge of tax technical resources and technology to uncover insights and smarter solutions for clients in today's complex global and regulatory environment. For more information visit http://www.deloitte.com/us/tax. Join us on twitter @DeloitteTax.

Contact
Melissa Curtis
Public Relations
Deloitte Services LP
+1 617 437 2156
mecurtis@deloitte.com

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SOURCE Deloitte