Data is increasingly becoming a competitive advantage that makes and maintains industry leaders. Viewed through a tax lens, the risks and opportunities are significant.
In order to develop a tax lens around the value of data and the functions and processes of turning raw data into strategic assets, organizations must first understand how they are using data to drive value.
As businesses continue to invest in data assets and develop new ways to harness value across their global organizations, tax departments are faced with understanding the impact to their current tax operating models:
This is no easy task. For many companies, the impact data has on an organization is substantial and complicated. There are no one-size fits all approaches to identifying, managing, and valuing data assets through a tax lens.
Data certainly is not just a byproduct of business operations, rather the data value stack is an ever increasing portfolio of value driving assets, functions and risk that requires careful consideration and alignment into global tax and transfer pricing operating models.
KPMG is helping companies effectively organize, visualize, assess, review, and manage the various components of their value drving data with a full suite of services:
KPMG Value Chain Management: Data as a value - A tax perspective
Bringing a tax lens into the overall data strategy allows organizations to better align tax and business objectives around data, identify tax risks, as well as opportunities associated with the evolving digital landscape and determine where data assets fit within existing tax operating model frameworks. | September 2023Download PDF
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The modern tax department is a strategic powerhouse, deserving of a more prominent seat at the C-suite table.
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