As businesses adapt to digitalization, they encounter various trends reshaping tax compliance. From emerging business models to governments’ digital initiatives, the tax landscape is undergoing significant transformation.
Authorities are starting to involve themselves in business transactions, disrupting well-established business processes and taking control of the invoicing flow between suppliers and buyers. As a result, they have the data needed to prevent tax evasion and start auditing taxpayers automatically or even auto-populating tax returns moving toward tax bills. Additionally, sustainability efforts and climate change regulations further impact tax regulations.
Amid these shifts, SAP can provide peace of mind to navigate complexities efficiently. By understanding the evolving tax landscape, businesses can leverage SAP solutions to help streamline compliance processes and drive automation to capitalize on emerging opportunities.
SAP solutions for global tax management are tailored to help address modern tax challenges. SAP S/4HANA Cloud can provide transparency and compliance on a global scale, enabling businesses to embed tax requirements in processes.
Through localized solutions that offer standardized but flexible business processes, a complete suite of solutions facilitates efficient tax management, from e-invoicing to statutory reporting and overall tax compliance. With SAP technology and expertise, businesses can achieve greater accuracy and agility in tax compliance, paving the way for sustainable growth and competitive advantage.
To help tax professionals prepare for and become valuable members of tax transformation projects, SAP is introducing a new course: Unlocking Tax Transformation with SAP.
The course is designed to equip professionals with the knowledge needed to navigate today’s tax landscape and learn new capabilities that can be leveraged as part of SAP S/4HANA-enabled transformations to simplify tax compliance.
The course offers practical strategies to learn about the different tax types, global developments and their business relevance, and the importance of technology with a focus on SAP S/4HANA and SAP solutions for global tax management. It begins on April 30 and enrollment is now open. By enrolling in this course, tax professionals can gain valuable insights into industry best practices and leverage the latest SAP innovations to help optimize their tax processes.
In a time of rapid change, SAP supports businesses on their journey to tax compliance and growth. Through collaboration with SAP and a commitment to continuous learning, businesses can navigate the complexities of taxation with confidence and achieve their long-term objectives.
Erika Buson is part of Product Marketing for Global Tax Management and Entity Close at SAP.