Global Tax Management 2024 – Benchmark Report

Reading time: 1 mins

Grant Suneson

Editor SAPinsider

Rizal Ahmed

SAPinsider

Key Takeaways

⇨ Explore the implications of global tax regulation changes on multinational corporations and the methods they employ to adapt.

⇨ Gain insight into how organizations are investing in data and analytics to provide increased visibility for tax executives and their teams.

⇨ Assess your company's performance relative to industry standards and learn what the pain points in tax that are challenging fellow SAP customers and what they are doing to overcome these obstacles

SAPinsider delves into the shifting priorities in taxation and technology, emphasizing the significant impact of digital transformation and the adoption of SAP S/4HANA on finance and tax functions. It reveals the key drivers shaping tax priorities and projects, highlighting new solutions tax professionals are investing in. The rapid changes in global tax regulations have made control and governance the primary concern for 43% of businesses, underscoring the challenges of compliance in a complex tax landscape. In 2024, integration and visibility are paramount for tax teams due to the multitude of business applications supported by SAP customers. Budgets for global indirect tax compliance remain stable or are increasing, with 63% of survey respondents affirming this trend. E-filing and tax control frameworks are increasingly being implemented, while investments in personnel and tax localization tools are growing to address the intricacies of local laws and meet global compliance demands through digital strategies.

SAPinsider explores the evolving priorities across various aspects of taxation and technology, leveraging community insights that highlight the pivotal role of digital transformation and the move to SAP S/4HANA in finance and tax functions. Understand what the key drivers are that are shaping tax priorities and projects and learn what new solutions tax professionals are investing in.

With the swift evolution of global tax regulations, control and governance challenges have emerged as the main concern for businesses. 43% identify it as a significant issue, pointing to an increasing struggle to maintain compliance in a multifaceted tax environment. With the sheer number of business applications that most SAP customers support, integration and visibility have become top priorities for tax teams in 2024.

Budgets for key activities such as global indirect tax compliance are being maintained. 63% of respondents in our survey report that these budgets are staying the same or growing. E-filing and tax control frameworks have been on the rise when it comes to implementations. Also given the complexity of local laws, investments in people and tax localization tools are also seeing growth as tax professionals embrace digital strategies to meet global compliance requirements.

Download the benchmark report to read the full data analysis from 150 members of the SAPinsider community and receive recommendations for your global tax management plans.

Explore the top factors driving Global Tax Management strategic priorities in 2024
Learn what regulatory updates most impact the workloads of tax teams at SAP organizations.
Understand the challenges organizations face integrating ERP and applications with a global tax engine.
See what applications and tools organizations adopt to enhance automation across the indirect tax lifecycle.