At first glance, the process of selecting a sales and use tax returns outsourcing provider may appear complicated. The nature and quality of service these outsourcers deliver varies, often in important ways. Some outsourcers are true “partners;” others are little more than a collection of temp workers.
Transfer pricing remains a major risk to companies around the world. In fact, it was the top tax risk identified by the 800-plus global tax and finance executives who participated in EY’s 2014 survey on Tax Risk. The growing complexity of worldwide transfer pricing rules continues to present a three dimensional challenge for multinational companies ("MNCs") with respect to documentation requirements, transparency initiatives and audits. Scrutiny of a company's transfer pricing is not only limited to tax authorities, but also now comes from the media and other activists and NGO's.
If you’re an online or traditional brick and mortar retailer, or hybrid retailer, distributor or wholesaler, you are burdened with sales and use tax compliance. How do you know when it’s time to give up your manual processes in favor of an automated solution?
As we talk to tax executives across the U.S. about sales and use tax returns outsourcing, we’ve found there are a number of misconceptions that prevent companies from considering this option. Understanding the truth about the issues and the marketplace offerings will prove that returns outsourcing can be a valuable alternative for a tax department.
In my previous post, I described the growing need for tax functions to take a cue from CIOs in order to effectively plan for a digital future. To use the research firm Gartner’s language, this approach requires addressing the “safe and steady” demands of system or record IT as well as operating in a “faster, more agile, nonlinear mode” for systems of differentiation. Other research on the IT function’s current evolution supports and builds upon the need for IT to enable a data-driven culture and strengthening its strategic contributions to the organization.
Chief information officers (CIOs) and their information technology (IT) functions are feeling overwhelmed these days. Understanding the source of this frustration can equip chief tax officers (CTOs) and their tax functions with some practical and valuable guidance.
In one of The Wall Street Journal’s recent “CFO Journal” articles, Deloitte Tax LLP Partner Jacien Steele identifies five important questions CFOs should ask their tax executives. According to Steele, "With turnover in tax leadership projected to increase due to retirements and the competitive market demand, CFOs should engage with tax in order to enhance tax literacy and develop future tax leaders."
We hear a lot about “ongoing economic uncertainty” these days, but there’s at least one economic certainty for companies with international operations: global audit activity will continue to increase.
“Chaos was the law of nature; order was the dream of man.”
― Henry Adams, U.S. Historian
Adams’ description of chaos appears in his book, “The Education of Henry Adams,” which he wrote a century ago to describe his attempt to come to terms with the start of the 20th century, a period of rapid change and turmoil. The quote also crystalizes the experience of many tax professionals at the dawn of the 21st Century as they try to make sense of the chaotic jumble of tax-enforcement approaches and increasing use of general anti-avoidance regulations (GAARs) that vary dramatically – and confusingly – from country to country.
This month’s 2014 Oracle HCM conference was inspirational and reassuring. The inspiration came from learning about innovative practices related to attracting, developing and retaining talent; boosting employee productivity and employee engagement; and addressing the talent crunch that affects all of us – tax executives, HR executives and just about every other company leader.
If you've ever driven on an icy road and started to slide, it helps to regain control by steering into the skid. While that guidance sounds counterintuitive, it happens to work quite well.
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