Tax compiance process

Having a process for your tax compliance is one thing. Having it operationalised is a very different thing ☔️.

The status quo for many multinational companies is that their global tax obligations rely on processes that are highly manual, unstructured, and with unclear roles and responsibilities. There are no or limited controls. The overall workstreams are everything but flexible, repeatable or scalable. Data is single-use.

Investing in higher tax compliance maturity levels comes with clear and significant benefits:

– More efficient ways of working = lower cost
– More structure, automation and controls = lower risk
– Automation = more headspace to focus on what matters
– Flexibility and scalability = preparedness for upcoming change
– Workflow engine = transparency and audit trail
– Data captured = unlocking intelligence
– All of the above = happy CFO

Long story short 👉: investing in compliance workflows is investing in the foundations of the tax function. When that’s done, the tax team will be able to focus on business support and strategic projects. The business case for this is a no-brainer. Go for it!

Want to analyse how far you're on your tax process and overall tax maturity ladder? Check out this free maturity test we've built for in-house tax teams: