Managing tax complexity is a growing concern for companies globally. Compounded by market, legislative, and technological factors, there exists today a rare combination of events and circumstances beyond many organisations’ control.
Many tax professionals recognise the importance of transforming their tax function into a best practices environment to meet the changing tax landscape. However, the road forward is often hampered by a persistent disconnect between how executives in tax and the finance functions view the role of tax within their organisation.
This new report uncovers the current state of the tax function in Europe from a recent market survey of 161 tax and finance executives and reveals the main disconnects between departments. It also outlines how to potentially overcome the identified challenges to amplify the strategic value of the tax function. The paper focuses on:
“Tax executives have two choices: persist in the status quo or build a compelling case for change.”