ICAEW report explores digitalisation of tax across the world
In this digital age, technology has affected the economy, many industries and the way things work, including the accountancy profession. In the profession, the topic of digitalising tax and the taxation process is gaining attention. Digital technology is being utilised to revamp the process of tax administration and reporting. In some countries, the move to digitalising tax will push accountancy practitioners and taxpayers through a period of rushed development and many will struggle to keep up with the changes being made.
A report recently released by CAPA Affiliate member, ICAEW (the Institute of Chartered Accountants in England and Wales), explores how digital technology is being utilised by tax administrators around the world to reduce costs and improve compliance and tax yields. The report, titled ‘Digitalisation of Tax: International Perspectives (2019 edition)’, also features case studies from 12 countries around the world and the challenges faced by these economies in the digitalisation process.
CAPA members may be interested to read the report and case studies, which includes 6 countries from the Asia-Pacific region. The report is accompanied by a free on-demand webinar with ICAEW’s IT and Tax Faculties. Read the report and access the webinar at the ICAEW website as follows: