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Where is Tax Headed? KPMG Looks at Evolving Tax Functions

Where is Tax Headed? KPMG Looks at Tax Functions

Tax Leaders - Are You Meeting Current Demands?

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Leading Chief Tax Officers (CTOs) must stay current with the pace of tax change, which continues to accelerate due to factors such as geopolitical uncertainty, changing business models, global tax reform and rapid advances in technology. Today's tax leaders must meet current demands as well as the challenges of the future, which may include:

  • Finance function transformation - Centralized tax and finance activities mean that the ability to leverage local expertise, knowledge and tax authority relationships becomes more remote, 
  • Tax system digitization - Companies are increasingly asked to provide digital tax filings and documentation in a rising number of tax jurisdictions in a range of differing electronic formats 
  • Expanding skill sets - Along with new technology-related skills, abilities in cognitive areas like communication, negotiation and change management are becoming essential
  • Evolving accountabilities - Tax executives are being called on to answer questions about their companies' tax positions by senior management, boards and a range of external shareholders, including investors, the media and the public.

A new KPMG article, "The Fabric of the Tax Function is Changing", shares insights for CTOs on these evolving challenges. This article is available online as part of KPMG's Future of Tax series, which also includes short podcasts for tax leaders that features KPMG's tax experts discussing where tax is headed. In the latest episode, "Tax Reimagined", Sean Bloodwell (Head of Global Compliance Management Services KPMG in the U.S.) talks about the different approaches that companies are taking with their tax operating model. 

For more information, contact your KPMG adviser. 

Information is current to March 07, 2019. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500

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