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Tax Transformation

Tax Transformation

Helping organisations develop and operate leading tax functions.

Helping organisations develop and operate leading tax functions.

As the tax function plays an increasingly integral role in the success of many organisations, a difficult question keeps many tax leaders up at night: How can my department improve and sustain performance, manage risk, and deliver value?

As more stakeholders take an interest in tax, the environment in which tax executives operate is changing dramatically:

  • Lingering economic uncertainty puts pressure on many companies to cut costs and on tax authorities to boost revenue.
  • Globalisation continues to drive business and finance transformation and the centralisation of finance, tax and other functions.
  • Companies are expected to improve their governance, accountability and transparency in all areas, especially tax.
  • Regulation demands ever more tax transparency through the disclosure of data both to the tax authorities and to the public.
  • Governments and the public are debating tax morality and demanding that companies pay a 'fair share' of tax where they earn their profits.

With expectations of tax leaders and their functions continuing to evolve at a rapid pace, it’s become clear that maintaining the status quo operating model is no longer justifiable. Indeed, there is a compelling need to not only embrace new technology in the transformation of the tax function, but also to couple this with the implementation of better processes and people changes to sustainably evolve the tax operating model ongoing.

However, the increasing complexity of the tax landscape means that transformation can be difficult to implement, particularly in the case of multiple and varied data sources.

How KPMG can help

Our Tax Transformation specialists adopt a methodical data-driven approach to understanding clients’ tax systems, processes and specific compliance requirements. Drawing on industry-expertise in tax technical issues, compliance services, operations, technology and more, we can help organisations position their functions for:

  • greater efficiency to manual processes leveraging automation, analytics and machine learning
  • greater accuracy and substantiation through the testing of every transaction across a range of taxes
  • deeper insights through operating in a data rich environment, which can enable data-driven business decisions and elevate the function as an advisor of the broader business.

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