Top 5 trends: Emerging themes from Deloitte’s 2023 research Tax Transformation Trends 2023 Executive summary Tax departments at many companies are today undergoing fundamental transformation to respond to a significantly altered legal and regulatory landscape, including the OECD’s Pillar Two requirements, and a rise in indirect taxes around the world. To respond effectively to these and other changes, tax departments will need access to accurate and timely tax-related data across their company’s global operations, combined with tax teams that have data management and technology expertise.
These are some of the key themes that emerged from Deloitte’s 2023 Tax Transformation Trends research, which included a global survey of 300 senior tax and finance executives together with a series of qualitative interviews with the heads of tax at large multinational companies.
- Trend 1: Holistic data management and integrated systems are required for insight-driven global compliance
- Trend 2: Costs and efficiency are still important, but the top priority for tax transformation efforts is now complying with changing tax laws and regulations
- Trend 3: Outsourcing is a prime strategy to access technology capabilities
- Trend 4: Tax isn’t just done in the tax department anymore
- Trend 5: Future skills requirements are giving rise to the “hybrid tax professional”
Source Deloitte
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