Rising to a new challenge

Many companies did not have the time or resources to put in place all the infrastructure needed to support their new remote working tax teams. Accomplishing today’s tax work with existing resources was already a challenge with continuous technology advancement and evolving regulatory demands. The effects of COVID-19 have exposed gaps and have put an additional layer of pressure on tax departments to be nimble.

Moving quickly to address immediate needs has been critical. But leaders also have an opportunity to think strategically and design a more agile tax operating model that is equipped for the “new normal,” through the amplified efforts of humans working better together with technology, and can flex and scale to fit uncertainty and change now and in the future. As tax departments navigate this unprecedented environment, tax leaders can use a phased approach to their planning efforts: