Meeting the needs of modern tax environment

The indirect tax landscape has never seen the pace of change that it has in the past few years and that change is taking place at many different levels. Regulatory level governments are moving towards destination-based models where taxation increasingly occurs in the country of consumption. There are also changes at the reporting level with tax authorities demanding real-time reporting and detailed transactional data. This is leading to changes at the business level in how a modern tax team looks today as it becomes increasingly important to look at the overall tax function rather than the tax team in isolation.

Ten years ago an in-house tax team would have comprised tax professionals supported by external tax advisers. Nowadays many tax teams have become end-to-end process owners of global tax while some of the day-to-day operations that affect tax (reporting) are the responsibility of business functions ...