This should be setting alarm bells ringing, because tax has never been more complex, critical to commercial decisions or fast moving. Departments responsible for tax are being swamped with ever increasing tax compliance burdens - think Pillar 2 for a case in point. As organisations transform, the questions they need to answer also evolve, for example: how to harness the power of Artificial Intelligence, optimise opportunities arising from the metaverse, transform their supply chains as they respond to ESG, or move to the cloud.
The complexity of these issues requires those responsible for tax to create strategic insight and value, and in doing so, help organisations make judgement calls. This ability to contribute effectively is put at risk however, when questions are raised too late because tax hasn’t been engaged early enough. This can also result in decisions around technology choices that result in the installation of technology that doesn’t deliver what it needs to.
Far from automating tax skillsets out of existence, transformation is a chance to augment business partnering capabilities and enhance the status and influence of tax within your organisation. We believe this human-led, tech-powered approach is key to creating successful, sustainable outcomes.