Striving to become "tax-aware," more and more tax departments are now starting to see a transformation within their company.
A Deloitte report has examined that there are five reasons for tax department transformations.
"For years, tax departments remained on the sidelines while many other business areas – finance and accounting, sales and marketing, and the supply chain, for example – underwent massive changes."
1. Accelerating globalization
2. Growing regulation and business complexity
3. Tax technology's evolution
4. Growing competition
5. Tax talent
There is also a synopsis of these 5 reasons in a recent Tax Matters blog post.