Income Tax Compliance: Thinking Out of the Box Now Can Pay Off Later
Companies devote a significant amount of time to income tax compliance. In fact, it is not uncommon for tax departments to spend more than 60 percent of their total resource hours on compliance — often leaving them with limited resources to devote to value-added tax planning.
In this report, Deloitte discusses what companies can do to enhance their income tax compliance processes to:
- Reduce compliance time
- Increase controls and transparency
- Deploy tax and other resources more effectively
- Benefit from available technology
The report also includes responses to polling questions posed to more than 2,000 executives during a Dbriefs Webcast on their experience with the income tax compliance process, including percentage of time spent on income tax compliance, strategies deployed to improve the process, and the income tax compliance software they use.
Download the full report to learn more.
As used in this document, “Deloitte” means Deloitte Tax LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.