Globalisation and technology have moved many finance functions into the world of shared service centers (SSCs) and the various enterprise resource planning (ERP) systems. However, compliance is a constant challenge and more than ever, tax directors must maintain control and oversight.
International tax planning has changed significantly over the last 20 years, as has the approach: from creative solutions to risk management.
We’ve seen the demise of renowned accounting firm Andersen, experienced the global financial crisis and today, tax directors must operate in the risky world of Base Erosion and Profit Shifting (BEPS), Digital Service Taxes, the Foreign Account Tax Compliance Act (FATCA), The EU Directive on cross-border tax arrangements (DAC6), Economic Substance Reporting, ‘State Aid’, and the concept of a global minimum tax rate.
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