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Global headache
Key points
- Tax is no longer a local issue: the patchwork of tax administration-driven digital transformation is complicating matters for multinational businesses.
- The importance of understanding the complex financial supply chain dataflows as governments inch closer to real-time returns.
- Many companies are tied up in a complex web of local contracts service level agreements and data models.
- How to avoid expanding mandates becoming non-functional islands within a company’s overall data strategy.
For a long time multinational companies could consider indirect taxes such as VAT to be the responsibility of their local subsidiaries. As tax administrations are embarking on aggressive digital transformations this approach is not just unsustainable – it is a threat to companies’ own digital transformations.
Governments across the globe are embracing the sweeping trend of implementing continuous transaction controls (CTCs) in an effort to tighten their VAT returns process and to increase economic...
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