New tax compliance challenges are unavoidable, and the pace of change is only accelerating. Consider what is happening at a macro level that produces massive and unending complexity for tax departments:
- Commerce is increasingly global, with supply chains and business models transcending physical borders.
- Political winds have prevailed in the direction of protectionism, and nobody knows where they will stay on that course and accelerate, versus where they will snap back and blow in the opposite direction.
- Technology has evolved to a point where automating many manual or repeating business processes is not just possible — it is now expected.
One noteworthy consequence of all of this is that tax authorities are being pressed from multiple angles. Not only must tax authorities help fund the operations of their jurisdictions and maintain a regulatory and enforcement approach that is fair, consistent, and predictable, they must strive to achieve a sensible balance between these two sometimes-dueling objectives.
Pressures on the tax function are everywhere, and they are growing in number and intensity. Here’s how tax professionals should respond. Download the white paper now!