Many organizations are rethinking the way they manage their tax processes and controls to keep up with changes in tax legislation and accounting standards. This is a smart move, as the potential for errors on complex tax returns are considerable and the penalties substantial.
There also may be an additional risk that too much time may be focused on compliance at the expense of higher-value activities such as tax planning and risk management.
One useful approach is co-sourcing the indirect tax compliance function. Co-sourcing:
Based in two central locations, KPMG’s National Compliance Centers for sales and use tax compliance are designed to offer a practical, reliable and high-quality approach to fulfilling your organization’s compliance obligations.
Contact us to find out more about how we can help you with a smarter strategy toward indirect tax management.