Ernst & Young LLP (EY) has announced a new global tax and finance agreement with Nokia Corporation to deliver tax and finance, data and technology managed services across 127 countries. As part of the agreement, a team of tax and finance professionals from Nokia will join EY around the world.
The agreement provides Nokia access to the EY Global Tax Platform, standard methodologies and global delivery centres. This will help Nokia focus on strategic initiatives and effectively navigate change in the highly dynamic tax and regulatory environment, including matters such as the rapidly emerging digital tax filing requirements in many countries.
EY EMEIA Area Managing Partner and EY Global Managing Partner – Client Service-elect Andy Baldwin said: “The agreement with Nokia is a prime example of how companies are working with EY to reimagine their tax and finance function in the face of digital disruption and a constantly changing legislative and regulatory environment.”
Kristian Pullola, Nokia CFO, said: “Our industry, like many others, is rapidly transforming. As global tax and compliance obligations become increasingly complex, we welcome the opportunity to collaborate with EY. This new agreement reflects our CFO strategy to focus on impactful business support initiatives, while providing us with the ability to access leading technology solutions to gain efficiencies.”
The closing of the planned transaction and the related employee transfer is expected to take place in Q4 2019 and in Q1 2020, with some supplier contracts expected to transition starting in Q4 2019.
