Disruptive technologies and unprecedented global transparency are helping to accelerate changes in the way businesses manage tax. In almost every way, the tax function of tomorrow will look very different than it does today.
Having an informed view of tomorrow is vital. Here, EY professionals discuss the future of tax and what it means for companies now in eight areas where business is transforming.
1. The future of the tax function
Tax functions, coping with rapid regulatory and legislative change and pressure to do more with less, have to transform themselves. This means deciding how to prioritize cost, value and risk when it comes time to invest in talent and technology to operate optimally in the future.