Reframing tax

Unlock the strategic value of your tax operations

Transformation and the use of technology is critical to business success. But our Reframing tax study indicates that tax is often being left behind on this journey.

People responsible for tax are not being included in conversations about transformation, or decisions around technology, which results in a lack of understanding, and sees organisations missing out on significant value.

By reframing the role of tax operations, with a focus on the strategic value they can deliver, tax has an opportunity to create lasting, organisation-wide benefits.

Stuart Higgins, Tax Markets and Services Leader, PwC UK

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Reframing the conversation

Our Reframing tax study shows the conversations businesses are having around key technology and transformation decisions are imbalanced. Only 45% of heads of tax are making decisions relating to tax technology, an indication that those responsible for tax are struggling to influence these decisions - despite being ideally placed to help deliver greater value for the business. Too often, projects are set in motion without value being fully articulated. Plans can then have a narrow focus on efficiency and cost, denying businesses broader strategic benefits.

While most businesses have some sort of tax transformation strategy, to progress it effectively tax must successfully articulate the value it can bring to the wider organisation. It isn't just insights into tax policy changes that tax is able to deliver. There is an equally important role to play in helping the business deal with the disruptive impacts of today's rapid shifts in business models and markets.

62%

of decisions around tax technology are made by CFOs

Source: Reframing tax study
54%

of businesses place 'moderate to little importance' on consulting the tax function on business strategy

Source: Reframing tax study
27%

of UK CEOs are investing in tax technology skills and capabilities

Source: PwC 26th Annual CEO Survey

“Far from automating tax teams out of existence, the use of technology is a chance to augment business partnering capabilities and enhance the status and influence of tax within your organisation.”

Bivek Sharma, CTO for Tax and Legal, PwC UK

Reframing tax: Where are you on your journey?

Understanding your starting point is critical to finding the right way forward. Use our interactive tool to assess where you are on your journey to being human-led, tech-powered and access further content to help deliver greater business benefits.

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