Speakers from the World Bank and Astra Space at ITR’s Women in Tax Forum said tax authorities must strike a balance between the need to boost tax revenue and collect data.
The UK has opted to raise a 25% levy on the profits of energy companies to fund a relief package for households amid the cost-of-living crisis. Meanwhile, the OECD’s plans for tax reform have stalled.
Tax directors must build a case for technology implementation, including with their CFOs, said panellists from eBay, Braze, and Walt Disney at ITR’s Women in Tax event.
Tax consultants and in-house tax directors say companies and tax authorities could benefit from the use of blockchain technology to file more accurate TP documentation.
The UK revenue service HMRC has seen its diverted profits tax (DPT) revenue increase during the COVID-19 pandemic due to an increase in profit shifting.
