Tax Reimagined 2023: Perspectives from the C-suite
The modern tax department is a strategic powerhouse, deserving of a more prominent seat at the C-suite table.
Introduction
Whatever the issue - addressing regulatory compliance, responding to market events and new tax legislation or hiring talent - the underlying solution lies with technology and innovation.
Our survey of 500 C-suite executives at large companies emphasizes the role technology and artificial intelligence will play in tax’s transformation as it expands its mission from a compliance function to a broader value creator for the business. Already, departments are helping power corporate innovation and preparing their companies for financial challenges, from sustainability and regulation to risk management. With the corporate tax landscape growing increasingly complex, investment in the tax department has become inextricably linked to an organization’s long-term health. Tax, reimagined, is a strategic powerhouse.
Dive into our thinking:
Tax Reimagined 2023
Download PDFArtificial intelligence – the next frontier for tax departments
AI will create a corporate reality of the ‘haves’ vs. the ‘have nots’ between those who adopt the technology to transform their tax departments and those who get left behind. KPMG has been investing in AI for more than a decade. By putting AI technology in the hands of our professionals, we’re changing the game in how we serve and deliver for our clients.
Brad Brown,
Global Technology Leader and CIO for Tax, KPMG US
When tax comes face-to-face with ESG
Tax transparency is becoming an increasingly important part of the ESG conversation. With mandatory tax disclosures on the rise, companies must act now to prepare. Embracing AI tools may be the solution to help companies make sense of their vast amounts of data to avoid the risks of having their tax story potentially told for them. Embracing technology is essential for companies to stay ahead of the curve.
Greg Engel,
Vice Chair, Tax, KPMG US
Measured speed – the 21st century business currency
A convergence of tax and tech: the anatomy of the modern tax professional
As technology and innovation continue to transform the tax landscape, talent is more critical than ever. The modern tax department requires a convergence of skills to understand the tax technical landscape, operate cutting-edge technology and analyze complex data. A tech-first mindset blended with tax skills is the winning formula to unlock the full potential of tax departments in the digital age.
Rema Serafi,
National Managing Principal, Tax, KPMG US
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