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Tax Transformation Trends survey
Operartions in focus
Operations in focus
New Deloitte research reveals that tax leaders are under increasing pressure to add strategic value as companies accelerate business model transformation. The Tax operations in focus study highlights the first of a three-part tax leader series. Each study will review and reflect the leadership insights of global tax and finance executives at global companies as they share their strategic perspectives on tax operations, talent, and technology.
Six issues at the top of tax and finance leaders’ agenda
Deloitte’s research revealed six distinctive trends. Please click on each tab below to explore the interactive charts that walk through what we discovered.
Businesses seek more strategic counsel from tax
Companies are being pushed to develop new digital products and distribution channels and accelerate sustainable transformation—which is taking them into uncharted tax territory. Tax leaders said that their teams must have the resources and skills to give deeper advisory support on digital business models (65%), supply chain restructuring (49%) and sustainability (48%) over the next two years. This means redrawing the boundaries of what tax professionals focus on, and accelerating adoption of advanced technologies and lower-cost resourcing models to meet compliance requirements and free up time.
Collaboration with business counterparts has to become tax’s core focus as companies navigate the recovery
Which of the following issues will be the biggest drivers of change for your tax operations and resourcing models over the next 1-2 years? (Rank 1-4)
There’s still a heavy compliance load today, but the vision for the future would be that much of that falls away, and tax people become subject matter experts who help program the machine, ensure quality control, and redirect their time to advisory activity.
Joanne Walker, Group Tax Director, BT Group PLC
The crisis caused a flurry of stress testing exercises which triggered a surge in tax forecasting demands. We had to do two years’ worth of forecasting in 12 months.
Richard Craine, Group Tax Director, Barclays