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Oilfield Services: Tax: Indirect Tax Compliance

A global oilfield products and services company (the Company) based in Houston, Texas designs, manufactures and distributes products used in the exploration, development, production and transportation of oil and natural gas. The Company engaged Opportune’s tax team after recent growth due to multiple acquisitions.

Opportune’s tax team was engaged to provide support for the state and local tax department, including assistance with tax compliance, sales tax software implementation, and sales tax audit defense.  The compliance responsibilities included property tax renditions and sales tax returns in various states.   During the engagement, the Company was in the process of implementing Avatax, a bolt-on sales tax software package designed to streamline the complex process of retrieving and organizing data from the different enterprise resource planning (ERP) systems used by many of the Company’s acquired entities.  This monthly process of consolidating data for sales tax reporting purposes had become increasingly time-consuming.  Opportune’s tax experts managed communication between the Company’s IT and tax departments during the implementation, participated in testing, and verified the functionality of the system.

The Company also had ongoing sales tax audits, and Opportune provided assistance to complete these audits.  Opportune successfully provided the Company with the assistance necessary to maintain compliance in various states. Additionally, Opportune contributed valuable insight to improve the compliance processes.

Opportune provides comprehensive tax solutions for businesses in changing markets and structures. Our seasoned professionals combine sound, innovative and adaptable ideas with the pragmatism that comes from having been on both sides of the desk — in both corporate and consulting roles. We develop creative solutions that drive performance while mitigating enterprise risk.  For more information click here.

Dean Price

PartnerOpportune LLP