Challenges and changes in indirect tax and compliance

The world of indirect tax compliance is a battleground. Ever-changing regulations, resource constraints, and the need for efficiency leave businesses struggling.

Based on a Thomson Reuters survey of 180 indirect tax professionals, this special report explores how upskilling and automation are emerging as powerful allies.

Upskilling the knowledge of staff in indirect tax roles

More than two-thirds of respondents (69%) said they foresee their organization stepping up training for understanding regulatory changes, as well as technology training, to make staff more adept at utilizing new technology to handle their workload more effectively.

Technology adoption: A catalyst for efficiency

The survey highlights a strong focus on technology adoption:

• Enhanced tax technology solutions (59%) — investing in improved systems to automate tasks and free up staff for strategic endeavors
• Leveraging AI capabilities (36%) — exploring AI for automating tasks, managing sales taxes, and proactively identifying compliance issues

The rise of the strategic tax advisor

Automation is transforming the role of indirect tax professionals. They will become:

• Reviewers and generals overseeing tax filings and focusing on high-value activities
• Strategic thinkers providing tax advice, risk management, and process design consultations
• Global tax experts managing complex tax requirements across various regions

Embrace change, ensure success

This special report explores the balancing act of adopting technology while preserving expertise. Learn about:

• Careful transition planning — minimizing disruption and ensuring a smooth adoption of new technology
• Maintaining staff expertise — upskilling programs and knowledge-sharing are essential
• Addressing upfront investment — careful budgeting is required for new technologies and training programs

Download the special report today and discover how to conquer the evolving landscape of indirect tax compliance.