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Accenture helped a large Australian mining company comply with the Minerals Resource Rent Tax (MRRT), a new and extremely complex tax.
This firm is a leader in the resources industry with a diversified portfolio of commodity businesses.
Effective July 1, 2012, businesses with iron ore and coal mining operations in Australia are required to comply with the MRRT. The client needed a solution that allowed it to accurately calculate and report MRRT, and adapt to any future regulatory or legislative changes.
Accenture worked with the client to design a solution that would enable it to fully comply with the legislation. The project was broken into three phases:
Design of the project, which included participation of the central tax team and the tax teams at each of the business units.
Implementation of system and process changes across two enterprise resource planning (ERP) systems.
Deployment of the solution across five business units. In addition, Accenture trained the client’s tax team, fixed assets team and support teams on the use and maintenance of the new MRRT reporting tools.
As a result of the engagement, the client now has an MRRT solution that is easy to use, reliable, transparent and auditable. In addition, the solution can drill down to source data in SAP, and integrates fully into the existing system and data landscape. Additionally, the solution has the flexibility to adapt to any future amendments to the MRRT.
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