Tax & Accounting Blog

The CIO’s Role in Indirect Tax Compliance: Deploying Solutions on Spec and on Budget

Indirect Tax, ONESOURCE, Sales and Use Tax March 12, 2012

With many governments across the world facing revenue deficits, countries are continuing to accelerate their indirect tax audit initiatives with companies operating in their respective jurisdictions. These companies are facing an interesting dilemma: tax managers are in charge of compliance, but the implementation of technology used to drive compliance is in the hands of IT managers.

While the entire company may not be involved in indirect tax management, the repercussions of non-compliance impacts everyone: an increase of unforeseen costs and liability that damages the business and impacts profitability. As such, CIO’s should continue to work closely with tax departments to ensure solution alignment to compliance initiatives.