Business
Digitisation has been a hot topic in the tax world in 2019 and it will continue to be, as tax authorities push for real-time reporting and more detailed transactional data from taxpayers. Digital developments require businesses to adapt their systems and introduce new processes to comply but it’s not necessarily all headaches and additional costs; more automated tax reporting can be a positive shift particularly for cross-border operations. Is your company prepared for the technology change? TMF Group head of accounting and tax Emine Constantin joins Jacek, Sylvia and Rob in this episode. Have a question for the team? Get in touch: Podcast@tmf-group.com Short on time? Skip ahead: 00:01 Intro 04:15 What’s trending in tax digitisation? 08:28 Why is digital tax reporting coming into vogue? 10:44 Local compliance challenges 12:50 Technology – an enabler for tax authorities or businesses? 17:58 The Standard Audit File for Tax – or is it? 19:30 The data challenge 22:18 The need for local tax knowledge and support 24:07 How the UK handled the introduction of Making Tax Digital 34:21 Key takeaways 37:03 Outro Learn about accounting and tax challenges in 76 jurisdictions – download the Global Business Complexity Index 2019. If you'd like to support the show, please hit 'subscribe' on Apple Podcasts or 'follow' on Spotify - and consider leaving us a review. CREDITS Your hosts are Jacek Szufan, Sylvia Petkova and Rob Hutchinson Producer: Carlie Bonavia Theme music: Roulette Wheel by JAM Studio, purchased from Shutterstock Music. Value Added Talk is a production of TMF Group.