Chrome River has launched an alliance with PricewaterhouseCoopers to deliver global templates for expense reimbursement compliance. Chrome River will offer value-added tax and other country-specific data provided by PwC so best-practice templates for its customers can be deployed to their international subsidiaries.
Chrome River will leverage PwC’s global taxation and regulatory insight to provide international templates for Chrome River customers to use when implementing expense-management programs. Chrome River’s customers can subscribe to receive automatic updates across a wide range of taxation, regulatory and expense data points, such as VAT and goods and services taxes, mileage reimbursement and meals/lodging rates.
Chrome River customers can then leverage this data to enable them to follow the complex recovery rules for VAT/GST on employee expenses while adhering to best-practice regulations for items such as receipt retention.
“The majority of Chrome River’s 750-plus customers use our solutions across multiple markets, and every country has different standards and templates for expense reimbursement, which can be complex to manage,” Chrome River CEO and co-founder Alan Rich said in a statement. “The ability to easily and accurately navigate the myriad global regulations that relate to employee expenses will make finance teams’ lives much easier, and with this relationship with PwC, we can enable our customers to remain in compliance with international regulations whenever they are updated.”
Any organization that operates internationally knows that the constantly shifting sands of taxation and expense reimbursement compliance can be very difficult to navigate. PwC’s deep global reach enables Chrome River to maintain current reimbursement and other regulatory rates for dozens of countries worldwide, Rich said. "Through this alliance, international organizations can have this data at their fingertips, giving them the up-to-the-minute insight needed to make smarter taxation decisions for expense reimbursement,” he continued.