1、THOMSON REUTERS INSTITUTEChallenges and Changes in Indirect Tax&Compliance Challenges and Changes in Indirect Tax&Compliance 2 Thomson Reuters 2024Executive summaryBusinesses face a wide range of challenges and priorities in managing their indirect tax compliance functions effectively,including the
2、growing complexity of regulatory compliance and the availability of resources and staff.Tax compliance leaders also have to more effectively handle technology adoptions,as well as manage work processes,data,and reporting.Many indirect tax managers within corporate tax departments say they have gaps
3、in resources,including staff skills and knowledge.In addition,they are evaluating the role that technology plays in their department and identifying the benefits and drawbacks of applying higher levels of automation.As a result,businesses are weighing different strategies and options for dealing wit
4、h these challenges,such as:recruiting new staff expertise or upskilling current staff adopting new technologies,such as AI,as well as adapting and upgrading existing systems re-evaluating the future role of indirect tax professionals within the businessLike many professionals in key business functio
5、ns,those in indirect tax compliance are dealing with a number of challenges,including managing the role of rapidly advancing technologies.The Thomson Reuters Institute recently surveyed indirect tax professionals in businesses in the United States,Canada,and the United Kingdom to understand the chal
6、lenges they are facing in their indirect tax and compliance function and how they are addressing these challenges.Further,we looked at the role of new technology such as artificial intelligence(AI)and its impact on the skills required for individuals managing their businesses indirect tax function,a