“The tax function of tomorrow must master data intelligence.” That’s how EY identified an “intelligent tax function” in its 2020 Global Tax Technology and Transformation Survey report. To keep pace with today’s ever-evolving demands, it’s essential for tax departments everywhere to bridge the gap between data and technology, and this survey highlights how far along the tax world is in doing that. The report breaks the near future in tax technology down into a few focal areas: the disruption of the tax function by tax authorities, data sourcing and transaction-level information, quality of data, skills needed to continue adapting, and insights into the transformation of the tax function.
Below are a few survey numbers that put the status of tax and tax technology into perspective. To dive deeper into EY’s 2020 Global Tax Technology and Transformation Survey results, visit go.ey.com/2ClZIkg.