As a seasoned tax leader, you make key decisions every day to evolve your tax department and keep pace with unprecedented pressures, disruptive technological advancements, heightened compliance obligations and more — all while seeking to demonstrate value within your organization and beyond.
For tax executives of multinational organizations, benchmarking against comparable tax departments can be a powerful tool for reflecting on your current position and planning how to prepare your department for the future. To help, KPMG International conducts an ongoing survey of multinational tax departments. While the number of participants continues to grow, the resulting database is already believed to be the most robust of its kind on a global scale, with input from some 400 multinational tax leaders in more than 50 countries.
The data offers insights into tax departments and how they are evolving in terms of structure, governance, priorities, performance measures, through the use of technology and more.
What do the latest results tell us? Compliance and risk managementare clearly the top priorities for today’s tax leaders, and the tax department’s contribution to strategic value now seems to take priority over cost minimization in many areas.
Looking ahead, companies appear more or less satisfied with their current sourcing models but less satisfied with the ability of their companies’ ERP systems to provide tax data. Many respondents expect their companies to invest in technology changes and, to alesser extent, tax software. When asked what investments they’d most like to see, however, investments in additional personnel tops the list, with tax technology and process optimization not far behind.
This report presents a brief overview of selected key findings from the survey data through to early 2018, and offers some important takeaways for tax leaders.