COVID-19 has brought about the adoption of technology at a rate that was unthinkable at the turn of the year and it’s a trend that is unlikely to go into reverse.
Individuals, businesses and governments have adapted to increase their online presence and become more digital and automated. This is particularly true in the world of tax, immigration and compliance, with the rapid rollout of new policies and the need to communicate and gather information quickly.
Once we do get to the ‘other side’ of the pandemic, governments are going to need to maximise tax revenues to help rebuild economies. Technological evolution will be key and will bring whole new ways for businesses and individuals to plan and organise their tax affairs.
This is the sixth article in KPMG's 'Making Tax Digital' series which looks at:
- expected trends in the digital tax and compliance world in the next few years
- the impact of Artificial Intelligence (AI) and other new technologies
- government initiatives for storing and sharing citizen information
Download the full article to find out more.