Incitec Pivot, one of Australia's leading ASX-listed chemicals and explosives manufacturers, faced mounting pressure on its tax function. With 126 legal entities spanning 15 countries, traditional compliance software was struggling to keep up:

• Manual data entry — Uploading large volumes of data consumed 5+ hours per cycle, every month
• Slow journal preparation — Monthly tax journals took 2 weeks to complete from start to finish
• Limited transparency — Deriving DTA, DTL, CTP, and ITE balances was difficult for non-tax stakeholders to understand or interrogate
• External dependency — Routine reporting relied heavily on an external service provider, creating cost and key-person risk
• Audit burden — Limited traceability made ATO and auditor queries time-consuming to resolve

After reviewing their options, Incitec Pivot selected TaxTime for:

• GL-level transparency — Tax treatment mapped directly to GL accounts with full end-to-end lineage
• Self-serve reporting — Flexible reporting capability without relying on IT teams or external suppliers
• HFM tie-out — Attribute-driven rules simplify reconciliation back to the consolidation system
• Embedded controls — Automated controls to ensure the integrity of reported data throughout the process
• Bulk data processing — Ability to upload large volumes of data simply and quickly

The income tax reporting process was completely redesigned — from fragmented, manual workflows dependent on external providers to one unified, self-serve system.

"TaxTime was chosen as the preferred reporting platform because it delivers far greater transparency in the derivation of tax results than our previous solution. This improved transparency will deliver a more efficient reporting process which will greatly improve the auditability and interrogation of IPL's global tax data." — Vic Timos, Head of Tax, Incitec Pivot

• 96% faster data uploads (5 hours → 10 minutes)
• 79% faster journal preparation (2 weeks → 3 days)
• DTA, DTL, CTP, ITE balances now clear to non-tax stakeholders
• Eliminated external supplier dependency for routine tax reporting
• Full auditability with embedded controls and complete data trails
• ATO and auditor confidence strengthened through end-to-end lineage

With a transformed tax reporting foundation in place, Incitec Pivot continues to build on its TaxTime implementation — using the platform's lineage and governance capabilities to support ATO Justified Trust reviews and international reporting across its 15-country footprint.