Case Study: An Oil & Gas Corporation automates international tax compliance and cuts manual calculations with CSC Corptax

An Oil & Gas Corporation Automation within International Compliance

Oil & Gas Corporation needed to automate its Form 1118 Foreign Tax Credit process and reduce international offline calculations that were being done manually in Excel — including Section 861 Interest Expense and Interest Netting. The company engaged CSC Corptax, using CSC Corptax International Compliance (Corptax Office/Corptax International) and Corptax Professional Services to address these challenges.

CSC Corptax Professional Services reviewed the workflow and implemented Section 861 automation via Corptax Office, built a Section 199 DPAD sourcing workpaper tied to the International Domestic Sourcing Trial Balance, and standardized a Form 1118 vs. Form 1120 reconciliation template. The CSC Corptax solution eliminated multi-step Excel lookups and manual-computation risk, enabled real-time QPAI sourcing and processing for improved planning and GL-level transparency, and simplified variance identification during the provision process.