New tax regulations, such as the European Commission’s VAT in the Digital Age proposal, are driving the need for technology in tax departments. Real-time data and automation are crucial for compliance and reducing human error. However, tax departments may require additional training and support to implement these changes. Companies should evaluate their readiness for tax technology transformation and focus on orchestrating the correct response, putting data front and center, gaining visibility and holistic control, digitally empowering and upskilling their tax professionals, becoming a trusted business partner, future-proofing the tax function, and gaining a positive ROI from investments in tax technology.
Source Ahu Ocak Caglayan
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