EMEA Organizations Face Corporate Minimum Tax Uncertainty in 2023
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Key Takeaways
⇨ The global regulatory landscape in the EU is impacting EMEA enterprise tax teams that continue to report increased compliance burdens.
⇨ The EU unanimously agreed to implement Pillar 2 of the OECD agreement, further impacting future compliance efforts across EMEA organizations
⇨ SAPinsider organizations recognize the need to digitize their tax and finance functions in order to remain compliant with global regulations.
The effects of an ever-evolving regulatory landscape continue to impact enterprise tax teams across the globe. Findings from SAPinsider's Global Tax Management benchmark report, particularly for EMEA-based organizations, point to corporate income tax compliance as among the most significant regulatory updates impacting their workloads (42% of EMEA-based respondents). Unfortunately, this compliance burden will only increase for EMEA organizations heading into 2023, as the European Union recently adopted a minimum corporate tax framework that continues to shift the global taxation landscape.
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