For large companies operating in a digitalized global economy, indirect tax compliance has evolved from an arduous manual task to a largely hands-off process. These processes are performed automatically and in close to real time by sophisticated tax technologies executing most tax functions—data gathering, computation, reconciliation, invoicing, reporting, filing, etc.
Much of this shift to digital tax compliance has been driven by governments and tax authorities around the world who are adopting e-invoicing, real-time reporting, electronic tax filing, and other digitalized forms of tax compliance. Each authority requires tax technologies that can keep pace with the massive amounts of data these systems generate and the reporting speeds that digitalized tax regimes require.
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