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We will dive into the key benefits of embedded tax solutions and offer insights for corporatetax professionals looking to use comprehensive tools to achieve exceptional compliance and operational excellence. Highlights: Tax management in large organizations is complex and needs precision.
ONESOURCE uses data mining and next generation risk assessment (NGRA) tools to create a digital audit trail and enable comprehensive risk management, reducing the risk of audits and penalties. Learn more by reading our whitepaper, 10 reasons why ONESOURCE should be in your indirect tax tech stack.
Thomson Reuters: Can indirect tax automation help businesses that have paid significant amounts under audit recently or on a recurring basis, or are consistently filing refund claims? Wing: Again, one of the advantages of automating IDT processes is more accurate and efficient tax operations overall.
Corporatetax teams responsible for collecting, managing, and paying indirect taxes face numerous challenges in today’s fractious tax landscape. Often, this managerial insecurity stems from a lack of confidence in the quality of the data available to indirect tax teams. Whitepaper: The Future of Tax Departments.
According to the “2023 State of the CorporateTax Department” report by Thomson Reuters Institute, it is unsurprising that the primary objectives of corporatetax departments for the upcoming year, as indicated by 70% of respondents, revolve around enhancing operational efficiency. The time to act is now.
In a recent Thomson Reuters report, “ Indirect taxes: Much more than a process ,” we interviewed more than 30 tax directors around the world and found that the decision to adopt a more sophisticated tax technology solution was usually triggered by two issues.
Not all companies think about indirect tax automation in the same way, and different companies are at different stages in their technological journey. Where is your indirect tax team in the journey to becoming more technologically sophisticated? Tax automation is more than just a trend.
In this three-part series, we will explain what e-invoicing/CTC is, how it works, why it is gaining popularity, what technology and compliance challenges e-invoicing presents to corporatetax, finance, and IT teams, and share some best practices for doing business in an e-invoicing/CTC regime.
Frees up staff time that can be better spent on tasks that add value and support strategic decision-making, such as advanced tax planning, scenario modelling, more thorough risk assessments, and analyzing data to identify opportunities for tax savings.
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