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Tax Reimagined

In an era of rapid technological advancement and increasing regulatory complexity, tax leaders are challenged with modernizing their tax functions while maintaining compliance and efficiency. KPMG Tax Reimagined professionals can help organizations transform their tax functions through a holistic approach that integrates people and process optimization, technology implementation, and strategic advisory.

Tax Reimagined

Today’s unprecedented economic challenges have forced companies to rethink the way they do business. For many, this includes taking a closer look at how they manage their compliance obligations on a worldwide basis. Managing tax and statutory compliance in today’s highly complex economic and regulatory environment is no easy task. Rapid globalization, new developments in tax laws, changes in accounting standards and increased demands from tax authorities are all increasing the burden on tax and finance departments.  In addition, the recent global pandemic has taught us all the importance of remote working and building a team that can adapt to strenuous circumstances.  All the while tax functions are challenged with providing more and better reporting and compliance, in less time. 

Across the KPMG organization, we are investing US$5 billion over five years in technology, people and innovation to help accelerate the digital transformation of KPMG firms and our clients, with more than US$1billion being invested in tax & legal technology specifically through that period.  Through this investment we have combined our technology, transformation and compliance capabilities under a new framework — Tax Reimagined. A technology-enabled holistic approach, to help organizations develop and implement a customized target operating model for their tax and finance functions to enable them to reduce costs, mitigate risks, improve quality and drive more strategic value across their organization. 

The end state is a holistic solution,  frequently enabled by KPMG managed services offering, designed to integrate compliance processes (e.g. statutory accounting, tax reporting, direct/indirect tax compliance, transfer pricing) and/or a tax transformation effort which standardizes and optimizes tax processes by leveraging KPMG’s Lean 6 Sigma methodology for Tax and KPMG’s Digital Gateway technology. Typically such an end state can start from any end of the spectrum depending on the company’s priorities and resources.

Tax reimagined

Sean Bloodwell, Head of Global Compliance Management Services, KPMG International, shares more on how Tax Reimagined helps organizations develop future state target operating models.


What we do

Colleagues working on desktop

CFO’s and CTO’s want structural solutions to constant compliance hurdles, including, complex filing calendars, changing regulations and transparency standards, legacy technology, and talent gaps.

Tax professionals are regularly confronted with questions such as… What should I do in-house? When should I use a service provider? Where should the work be done?

Discover more effective ways to fulfill baseline compliance obligations, increase accuracy, and provide more stringent adherence to increasing regulations.

Women using laptop

Tax leaders want access to the game-changing benefits of machine learning, scenario modeling, and A.I. technologies.

Unleash new operational efficiencies by leveraging our investment in emerging technology to build a technology-driven tax function without making investments to these new tools and solutions.

Businessman giving presentation on white board to colleagues in conference room. Entrepreneur doing presentation in meeting room.

Tax functions are increasingly looking to transform their target operating model to reduce costs, mitigate operational risk, provide scale and contribute overall value to their organization.

The journey often begins with an understanding of the company’s current state, their ideal future state and identifying the gaps. With no two companies alike, one size does not fit all.

Achieving an ideal target operating model involves structuring and implementing solutions so you can outsource, co-source, or deploy in-house resources more effectively and sustainably.

And at the other extreme, there are people who are underwhelmed at the technology, seemingly disappointed that their tools may not be as simple as a Google search..

Two woman working and smiling

Tax organizations need data strategies that bring consistency across data reporting to identify opportunities that can help reduce risk, free up cash or working capital, and generate meaningful analyses for tax planning.

Predictive modeling data can help with scenario planning for potential legislative or regulatory tax changes.

Industry and revenue sized peer tax benchmarking data can provide tax leaders with a competitive insight perspective to make smarter, more informed decisions, and help take a holistic view of tax operations to codify leading practices.



Our approach to your tax transformation journey: 


Our solution architects collaborate with you to bring tax expertise, a deep understanding of technology and innovative operating model designs to help you reimagine your tax function. KPMG professionals can work with you, listening to your pain points and goals, to create a solution that works for you today and into the future.

This journey often starts with a discovery workshop where KPMG solution architects can work with you to better understand your current state, conduct rapid diagnostics, benchmark your data, share our observations and next steps as we help you reimagine your target operating model of tomorrow.  

At KPMG we have combined our technology, transformation and compliance capabilities under a new framework — Tax Reimagined.



Observation
  • Discover opportunity
  • Strategize, plan, and create a roadmap for improved operations
  • Develop business case for action
     
Transformation
  • Challenge the status quo
  • Streamline processes, increase efficiency, reduce costs, improve risk management.
  • Develop actionable plans for execution to help ensure success.
Implementation
  • Partnering for the long haul
  • Outsource, co-source, or deploy in-house resources more effectively and sustainably
  • Measure success to tell your story
     

How organizations can benefit:


Leveraging this framework KPMG Tax professionals can help you in many ways including but not limited to:

  • Gain a deeper understanding of technology and innovative operating model designs
  • Design a target operating model that combines transformation with the right blend of managed services and technology
  • Review the strategy of the tax function to confirm it aligns with the overall business strategy
  • Reduce the cost of compliance and/or deploy resources to more value added activities 
  • Streamline oversight of tax reporting across all countries and territories
  • Improve KPI reporting and the ability to refocus resources on value-adding activities
  • Higher-quality tax data that provides insights into the business
  • Future ready for the digitalization of tax collection
  • Bring leading tax expertise.

A KPMG Tax Reimagined discovery workshop can give you the opportunity to review and articulate your strategy and align your sourcing model, operations and performance indicators to that strategy, enabling you to reimagine you target operating model of the future, today.

Tax Reimagined


A technology enabled approach to developing a future state target operating model.

Download the slipsheet today.


Our insights

Inside global tax functions

Summary report: 2023 KPMG Global Tax Function Benchmarking Survey

Tax Reimagined 2023: Perspectives from the C-suite

The modern tax department is a strategic powerhouse, deserving of a more prominent seat at the C-suite table.

Tax Insights

Navigate the future of tax: pressing business issues and opportunities facing tax and business leaders today.


Client stories

Tax Reimagined stories – GSK

Jasmeen Jagpal, Head of Tax Operations at GSK shares how GSK is transforming their tax function to respond to today’s rapidly evolving global tax landscape with Amar Thakrar, Partner, Tax Compliance & Transformation at KPMG in the UK.

Tax Reimagined stories – Amadeus Group

Ana Collantes, Head of Tax at Amadeus discusses how Amadeus is leveraging the Tax Reimagined approach to transform their tax function – becoming more efficient, agile, and stronger at mitigating risk – with Antonio Fernandez Rabaneda, Partner at KPMG in Spain.

Uber rethinks the rules of the road. Again.

KPMG’s flexible, listen-to-design approach extends a legacy of tax technology innovation.


Of further interest

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KPMG Digital Gateway

The single platform solution that gives you access to the full suite of KPMG Tax & Legal Technologies you use.
podcasts

Global Compliance Management Services

In an increasingly complex global regulatory environment, tax leaders face significant challenges ensuring compliance across multiple jurisdictions, managing risks, and maintaining operational efficiency. KPMG's Global Compliance Management Services professionals can help organizations streamline their compliance processes, enhance accuracy, and reduce administrative burdens by providing a broad range of approaches for tax compliance and reporting underpinned by advanced technology.
insights

Tax Transformation

By leveraging advanced technologies, data analytics, and process optimization, KPMG Tax Transformation professionals help businesses enhance their tax operations, improve efficiency, and ensure compliance. The holistic approach aims to integrate tax into the broader business strategy, enabling better decision-making and risk management.

Our people

Sean Bloodwell

Head of Global Compliance Management Services, KPMG International; and Partner,

KPMG in the U.S.

Jay Ayrton

Tax Reimagined Lead in Europe, Middle East & Africa

KPMG in the UK

Dominic Cusatis

Global Compliance Management Services (GCMS) Lead in North America

KPMG in the U.S.

Lucio Giaimo

Tax Reimagined Lead in Latin America

KPMG Argentina



Connect with us

KPMG combines our multi-disciplinary approach with deep, practical industry knowledge to help clients meet challenges and respond to opportunities. Connect with our team to start the conversation.

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