Organizations of all sizes are now even more than before exposed to new trends in tax regulation, not just locally but globally. Their difficult position will deepen even more as we are moving into a period of important fiscal changes.
Technological innovation, digitalization, climate crisis, pandemic, new consumer demands or the emerge of previously unseen types of business models. These all are forming the future of tax. At the same time, important geopolitical shifts are taking place and globalization goes hand in hand with protectionism.
High on the agenda of OECD is achieving global consensus on how to tax the digital economy. If they succeed, the world will see a wave of complex corporation income tax reforms and a new, more harmonized international tax order. At the same time, new EU Green Deal could presage a global shift in tax and fiscal policy toward the transition to renewable energy and reduced emissions.
Another important topic of today is digitalization of tax. digitization has been changing all aspects of taxation for some time – from tax collections and compliance down to the tax base itself. At the same time, we will witness how governments react on the constraints of pandemic on public finances.
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