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Change is inevitable
Key points
- The OECD report highlights the continuing digital transformation among tax administrations globally.
- Since the Covid-19 pandemic there has been a marked acceleration of the shift to digital tax services and digital channels now dominate interactions between taxpayers and tax authorities.
- Taxation models dependent on physical channels (eg mail in-person visits to tax offices) dropped by 55% in 2020.
- There remains some scepticism in the accounting and tax profession in the UK – automation is viewed as replacing genuine subject matter expertise and decision-making by professionals.
- MTD strategy pales in comparison with the digitalisation emerging in Europe.
The direction of travel for tax compliance is clear: it is to become digital and underpinned by data. Globally and in Europe especially momentum is gathering as the pace of new e-invoicing and e-reporting mandates continue to pick up.
That momentum is presented in the Organisation for Economic Co-operation...
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