Governments are leveraging digital platforms to assess taxpayer data, including cross-referencing information at the source, running it through increasingly sophisticated analytics and sharing it among other agencies.
Traditional tax function operating models are struggling to keep pace and position themselves to support the rapid change and growing demands.
Lack of preparation, visibility and analytics capabilities across data sources can leave companies open to the risk of real-time audits, increased tax penalties, refund delays and reputational risk.
How EY can help
As the working world becomes more digital, it’s also becoming more complex and more demanding, and has ushered in a hyper-connected global economy with new business models that demand transformation.
Although it may not always lead the transformation conversation, tax functions must be at the table, which means being connected to the enterprise and advancing tax transformation.
Our Tax Technology and Transformation practice takes a look at developing an operating model strategy that brings in new people models, data, technology and innovation, and develops a blueprint for Connected Tax, making the tax function a real-time strategic partner to the business. And our Tax and Finance Operate team works with our Tax Technology and Transformation professionals to provide talent and technology alternatives in a managed services environment.
EY’s Tax Technology and Transformation (TTT) is a global practice that is helping organizations meet their ongoing tax operating and compliance challenges while redefining their tax function for the digital age. With a focus on the key areas of transformation, enterprise integration, data and analytics, intelligence and process automation, governance and risk management, our teams accelerate your ability to deliver on a tax function that is cost-effective and addresses the new and unprecedented challenges, risks and opportunities that come with today’s transformative age.