Trends shaping the tax world include the following: governments are increasingly turned toward indirect taxes as the preferred source of revenue, and environmental taxes are increasingly seen as a politically acceptable way of generating revenue; an increasingly globalised market is creating new demands on tax professionals to understand non-domestic international tax, VAT, withholding tax and transfer pricing rules; there is an increased sharing of tax data and information between nations and across borders; and, an increasingly regulated environment is putting further pressure on tax teams and is a driver to the creation and adoption of more sophisticated tax technology solutions.
