Key findings from our research
It’s a challenging time for tax leaders, who must cope with geopolitical uncertainty, evolving and often fragmented regulations, a shortage of tax talent, and rapid technological change.
Global tax policy is in a more dynamic state than ever, with many jurisdictions striving to promote responsible tax behaviors, protect their tax bases, and compete for investment. The Organisation for Economic Co-operation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) 2.0 measures on global minimum tax have been supported by more than 140 countries. Tax incentives are also being used to attract investment in green technologies and renewable energy to address climate change.
However, these efforts are now under challenge by the US government, and the pendulum that had swung towards cooperation on corporate tax policy may be swinging back towards competition. Tax operating models are under significant stress, internally and externally, and significant investment and transformation are needed to cope with the journey ahead.
Generative AI (Gen AI) is an essential tool with growing usage, bringing exciting opportunities to redefine business processes, improve productivity and compliance, and free up tax professionals for higher-value work. But, this can only happen through retraining to adapt to new roles and the introduction of new tax workflow processes to ensure high-quality, verifiable outcomes.
The report highlights three strategic imperatives that tax leaders should prioritize to create value for their organizations. We’ll also outline key steps needed to deliver this value and help enable organizations to achieve competitive advantage.
