Tax Authorities are Going Digital

Image: EY

Tax administrations around the world are going digital at a rapid pace.

And they are creating new capabilities to interact with taxpayers at source, instead of relying on historical information from the tax return.

In some rare cases, they are demanding taxpayers’ data before a transaction has even occurred, or are aware of a transaction occurring within seconds of the cash register transaction. This turns the whole model of tax compliance on its head.

And when digital advances are combined with the global revolution in tax transparency, companies old and new are finding that revenue authorities are forging ahead at a pace that has the potential to outstrip their ability to keep up.

Download

Suggested Articles

Some of you might have already been aware of the news that Questex—with the aim to focus on event business—will shut down permanently all media brands in Asia…

Some advice for transitioning into an advisory role

Global risks are intensifying but the collective will to tackle them appears to be lacking. Check out this report for areas of concern