{"id":5559,"date":"2024-08-27T09:51:56","date_gmt":"2024-08-26T23:51:56","guid":{"rendered":"https:\/\/insight.thomsonreuters.com.au\/business\/?post_type=insight_resource&#038;p=5559"},"modified":"2025-02-10T15:11:49","modified_gmt":"2025-02-10T05:11:49","slug":"challenges-and-changes-in-indirect-tax-and-compliance","status":"publish","type":"insight_resource","link":"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/challenges-and-changes-in-indirect-tax-and-compliance","title":{"rendered":"Challenges and changes in indirect tax and compliance"},"content":{"rendered":"\n<p>The world of indirect tax compliance is a battleground. Ever-changing regulations, resource constraints, and the need for efficiency leave businesses struggling.<\/p>\n\n\n\n<p>Based on a Thomson Reuters survey of 180 indirect tax professionals, this special report explores how upskilling and automation are emerging as powerful allies.<\/p>\n\n\n\n<p><strong>Upskilling the knowledge of staff in indirect tax roles<\/strong><br>More than two-thirds of respondents (69%) said they foresee their organisation stepping up training for understanding regulatory changes and technology training to make staff more adept at utilising new technology to handle their workload more effectively.<\/p>\n\n\n\n<p><strong>Technology adoption: A catalyst for efficiency<\/strong><br>The survey highlights a strong focus on technology adoption:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Enhanced tax technology solutions (59%) \u2014 investing in improved systems to automate tasks and free up staff for strategic endeavours<\/li>\n\n\n\n<li>Leveraging AI capabilities (36%) \u2014 exploring AI for automating tasks, managing sales taxes, and proactively identifying compliance issues<\/li>\n<\/ul>\n\n\n\n<p><strong>The rise of the strategic tax advisor<\/strong><br>Automation is transforming the role of indirect tax professionals. They will become:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Reviewers and generals overseeing tax filings and focusing on high-value activities<\/li>\n\n\n\n<li>Strategic thinkers providing tax advice, risk management, and process design consultations<\/li>\n\n\n\n<li>Global tax experts managing complex tax requirements across various regions<\/li>\n<\/ul>\n\n\n\n<p><strong>Embrace change, ensure success<\/strong><br>This special report explores the balancing act of adopting technology while preserving expertise. Learn about:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Careful transition planning \u2014 minimising disruption and ensuring a smooth adoption of new technology<\/li>\n\n\n\n<li>Maintaining staff expertise \u2014 upskilling programs and knowledge-sharing are essential<\/li>\n\n\n\n<li>Addressing upfront investment \u2014 careful budgeting is required for new technologies and training programs<\/li>\n<\/ul>\n\n\n\n<p>Download the special report today and discover how to conquer the evolving landscape of indirect tax compliance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The world of indirect tax compliance is a battleground. Ever-changing regulations, resource constraints, and the need for efficiency leave businesses struggling. Based on a Thomson Reuters survey of 180 indirect&hellip;<\/p>\n","protected":false},"author":5,"featured_media":5560,"template":"","categories":[689],"tags":[933,764],"resource_type":[624],"insight_job_role":[805,808,882],"insight_practice_area":[],"class_list":["entry","author-traus","post-5559","insight_resource","type-insight_resource","status-publish","has-post-thumbnail","category-indirect-tax","tag-indirect-tax-compliance","tag-tax-technology","resource_type-report","insight_job_role-chief-tax-officer","insight_job_role-head-of-tax","insight_job_role-tax-manager-director","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Challenges and changes in indirect tax and compliance - TR - Business Insight Australia<\/title>\n<meta name=\"description\" content=\"Challenges and changes in indirect tax and compliance \u00b7 Upskilling the knowledge of staff in indirect tax roles \u00b7 Technology adoption: A catalyst for efficiency.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tax.thomsonreuters.com\/en\/insights\/reports\/challenges-and-changes-in-indirect-tax-and-compliance\/form?gatedContent=\/content\/ewp-marketing-websites\/tax\/gl\/en\/insights\/reports\/challenges-and-changes-in-indirect-tax-and-compliance\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Challenges and changes in indirect tax and compliance - 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