article thumbnail

The tortured journey of data: How tax technology speeds up tax compliance, provision, and reporting

ThomsonReuters

According to the “2023 State of the Corporate Tax Department” report by Thomson Reuters Institute, it is unsurprising that the primary objectives of corporate tax departments for the upcoming year, as indicated by 70% of respondents, revolve around enhancing operational efficiency. The time to act is now.

article thumbnail

Should you consider an automated indirect tax system? 9 key questions to ask

ThomsonReuters

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

New report highlights key indirect tax challenges regarding compliance, technology, and e-commerce

ThomsonReuters

Corporate tax 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. White paper: The Future of Tax Departments.

article thumbnail

5 steps to win a business case for an indirect tax technology solution

ThomsonReuters

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.

article thumbnail

Indirect tax automation: Practical tips for companies beginning a tax transformation journey

ThomsonReuters

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.

article thumbnail

E-invoicing basics for compliance professionals

ThomsonReuters

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 corporate tax, finance, and IT teams, and share some best practices for doing business in an e-invoicing/CTC regime.