The environment in which tax directors operate has dramatically changed. Economic uncertainty is pressuring companies to cut costs and drive efficiencies. At the same time, tax authorities are looking at new ways of administrating and collecting tax using technology and data.
The attitudes of many governments, shareholders and boards of directors to tax management are changing. Managing tax risk and reputational issues are priority. Meeting compliance obligations, being efficient and cost effective, working with the business, and communicating internally and externally on the group’s tax position are essential for today’s tax directors. In our experience, setting a strategy, creating the right target operating model, putting in place a governance framework and taking steps to bring this to life are the building blocks of success.
