Three trends shaping taxation for businesses
More than ever, companies will need to shift their mindsets around how they collect, store and analyse tax and financial data
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THE PACE of change in the tax landscape has been unrelenting and the changes are fundamentally and permanently altering the way businesses and individuals deal with taxation.
Singapore is not spared from this. Globalisation, international tax reforms and digitalisation are disrupting the tax world. The transformative influence of big data and technology will have a direct impact not just on the tax function alone, but also on the finance function. Governments too are going digital, accessing information closer to the source and changing the dynamics of the reporting and auditing process.
Among the slew of changes, three key themes stand out.
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