- Tax & Accounting
- How companies are facing up to increasing indirect tax burdens
How companies are facing up to increasing tax burdens
Thomson Reuters recently interviewed 30+ global tax directors to understand the challenges indirect tax managers are facing, and how indirect tax teams are evolving their role to best deal with them and using technology for support. Learn more about the key themes that came out of this survey in the inaugural indirect tax report, “More than just a process”.
IDT Report Infographic U. S. Copy Transcript
Topic Tag: Infographic
Page Headline: How companies are facing up to increasing tax burdens
Text: Sales and use tax, value-added tax (VAT), and goods and services tax (GST) are a primary concern for many tax leaders.
Qualitative interviews with tax managers in large companies around the world identified challenges indirect tax managers face, and the strategies they are using to adapt and succeed.
Sub-header 1: Four challenges in indirect tax
Graphic 1: see attached infographic
Keeping up with change and growth
Growing reach of tax authorities
E-commerce and digital products
Sub-header 2: The perceived role of indirect tax teams
Graphic 2: see attached infographic
Text: Tax leaders are eager to move from compliance to an advisory role. However, much depends on involvement in other departments and learning new skills, like technology.
Sub-header 3: Five-year team goals
Graphic 3: see attached infographic
Text: To build towards a strategic advisor role within five years, managers identified four top tactics.
Sub-header 4: Embracing technology
Graphic 4: see attached infographic
Text: Most managers recognized technology could improve data quality and enhance planning and analysis. Used properly, the data underlying indirect tax systems provides up-to-date insights in business, supply chains, and customer activities.
Heading: Click here to download the report
URL link: https://www.thomsonreuters.com.sg/en/products-services/tax-accounting-overview/c/indirect-tax-report/form.html
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