Strategizing International Tax Best Practices – by Keith Brockman

PwC’s publication, referenced herein, provides revealing predictions and insights into the tax function of the future.

http://www.pwc.com/en_GX/gx/tax/publications/assets/pwc-tax-function-of-the-future.pdf

Key observations:

  • Reputation is being impacted by external perceptions, therefore companies need to respond clearly and succinctly to a wider stakeholder base.
  • A course must be charged for continual transformation.
  • Many jurisdictions will legislatively require adoption of a tax control framework, which will be shared with tax authorities.
  • Dedicated tax data hubs will become mainstream; data is the new business currency.
  • Most global tax compliance and reporting activities will be performed via shared service centers and/or third parties.
  • Tax professionals will require strategic risk management skills.

As post-BEPS time nears, with inherent complexities and global disparities, the time to examine current and ideal states of the tax function should be an immediate priority to avoid recurring reactive responses.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: