Tax complexity strategies for CFOs

The COVID-19 pandemic and supply chain disruptions have pushed companies to make significant adjustments in their operations. These changes often involve shifting sales strategies or relocating business units to new regions. While these moves may be necessary for growth, they bring increased challenges in understanding VAT tax obligations and maintaining compliant accounting & tax practices.

How have recent market trends increased indirect tax complexity?

As businesses adjust their operations to manage change and disruption, they must navigate an increasingly complex tax environment. For many finance executives, understanding VAT tax has become more challenging due to the need to comply with diverse and evolving tax regulations across multiple jurisdictions.

Post COVID-19, the rise of e-commerce continues. With transactions crossing borders more frequently, companies face the daunting task of ensuring compliant accounting and tax practices in multiple regions with varying VAT rules. This complexity is exacerbated by a growing shortage of tax professionals. It’s more difficult for businesses to stay on top of their VAT obligations. European tax authorities are ramping up their scrutiny of VAT compliance, making it more critical than ever for businesses to maintain accurate and transparent accounting records. Implementing compliant accounting and tax practices is no longer optional; it’s a necessity.

CFOs and financial leaders must be more agile than ever, anticipating risks and aligning tax strategies with business goals to safeguard the bottom line.

What steps can finance executives take to keep accounting and tax practices compliant?

Companies need robust systems in place to manage the complexities of VAT tax, reduce the risk of audits, and avoid costly penalties.

To stay ahead of the curve, it’s essential for CFOs and financial executives to focus on understanding VAT tax and its implications for their business. By developing strategies to manage tax liabilities effectively and aligning these with operational profitability you can protect the bottom line while remaining compliant with local and international tax regulations.

What can you learn in this webcast to help stay ahead of tax complexity?

The webcast audience poll revealed some of the big challenges facing CFOs today. These included finding and retaining talent (36%), keeping up with changing tax laws (27%), and adapting to technology adoption and digital transformation (27%), with managing a hybrid work environment (9%) also a concern. These results highlight the diverse pressures financial leaders are navigating in the current business environment.

What’s ‘taxing’ finance executives? staying ahead of the curve on tax complexity, is 45-minute session providing valuable insights from industry leaders and tax professionals.

By watching the webcast, you'll gain valuable insights into:

• Indirect tax trends and how they could affect your company's financial planning
• Changes in indirect tax rates and what you need to do to stay compliant
• Common audit triggers and how financial leaders can prepare to manage both internal and external audits effectively
• The unique challenges of taxing services and what financial leaders need to watch out for
• Managing hybrid work environments, finding and retaining talent and how these issues intersect with tax management.

Don’t miss essential knowledge you need to understand VAT tax and keep your business compliant. Watch the webcast below stay ahead of the curve on tax complexity.