Details

  • Service: Tax
  • Industry: Financial Services, Industrial Markets, Consumer Markets
  • Date: 6/17/2016

Transformation of Compliance 

In today’s rapidly evolving landscape, multinational companies are faced with more compliance burdens – and more financial and reputational risk, than ever before.
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With increased scrutiny from tax authorities, legislators and even non-governmental organizations, companies are revisiting their approach to compliance to ensure it is fit for purpose.

 

This article looks at the ways in which global compliance is becoming more complex for multinationals, who are now taking a close look at compliance delivery models to ensure they are making the right investments that can effectively address the new reporting requirements ahead. As finance departments become more centralized, tax departments are also considering whether their local-country compliance activity should be more centralized as well. The article also looks at the role of digitization and machine learning in compliance, and how tax authorities may deploy them.