Businesses seek more strategic counsel from tax function

Tax leaders are increasingly sought out for strategic counsel as companies accelerate business model transformation according to research by Deloitte.

The firm has launched a three-part Tax transformation trends survey which involved more than 300 tax and finance executives globally. The first report Tax operations in focus discusses the fast-moving trends that are driving businesses to shift where and how the tax function adds value understand their future vision and how they plan to get there.

Long before Covid-19 struck businesses in many sectors were trying to accelerate business model and operational transformation initiatives as digital disruption and climate change presented new risks and opportunities. However the pandemic intensified the pressure to transform testing corporate resilience more than ever.

As a result the tax function’s strategic insight will be more in demand than before. For instance ...