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If the technological enhancements entail the procurement of better data, then it can help support the organization’s tax positions. It is one of the keys to the organization’s success–how effectively and efficiently are the various processes executed when implemented together.
With cloud migration that means making upgrades, licensing, procurement and maintenance simpler with software-as-a-service (SaaS) models. It is, therefore, not surprising that the 2021 EY Tax Risk and Controversy Survey across 1,265 respondents in 60 countries and 20 sectors, identified Transfer Pricing to be the # 1 tax risk.”.
When: The deadline to comply with the new standard is for fiscal years beginning after June 15, 2021. The survey also asked what steps organizations have taken to implement GASB 87, and most of the respondents have read the standard but only a few had implemented it using software. Hint the auditors probably have it right!)
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