Tax Analyst Skills Needed for the Future of Indirect Tax

November 15, 2017 Alex Forbes

What are the skills today’s tax analyst needs to prepare for the future of indirect tax? You may have gone into the profession thinking, “I’m better at math than language, and being a tax analyst sounds like a good career choice. It could get boring, but I’ll manage.” You may have been right on the first thought, but you probably never thought “boring” would be so far from the truth.

 

Today’s technology-driven, rapidly evolving regulatory environment has changed, and will continue to change how businesses and governments operate to increase revenues. New technologies like cloud computing — and even newer ones such as machine learning, artificial intelligence, and the Internet of Things (IoT) — aren’t only opening new revenue streams and altering supply chain models, they’re also opening up opportunities for tax analysts to expand their repertoire of skills to ensure compliance.

 

Indirect Tax Skills – Global, Business, Data, Technology and Security

 

Sure, you must be highly proficient in data analysis, statistics and technology. But indirect tax professionals must increasingly have an ability to work across borders, understand business goals and change, be able to dig into data and present it in a meaningful way to senior leadership, and stay up on the latest technologies to automate what is no longer possible or cost-efficient to do manually.

 

Today’s finance and tax leaders are looking for five critical skills as they scale teams to adapt to the new compliance environment:

 

  1. Technology-focused
  2. Data-driven mindset
  3. Business acumen and ability to adapt to rapid business change
  4. Soft skills and the ability to communicate the insights and implications of data
  5. Keen understanding of security risks

 

To learn more about the requirements of these skills and how they relate to the changing regulatory and technological landscape, download the eBook, “Tomorrow’s Tax Leader: How to Cultivate Talent and Technology to Succeed Amidst a Volatile Tax Landscape.”

 

 

According to a study commissioned by KPMG, the trend toward increasing centralization of tax departments will continue, and process standardization tops the list of tax leaders’ priorities for process improvements. This, even as more than a quarter of tax leaders lack confidence in the ability of their companies’ systems to provide tax data.

 

While tax leaders’ top priorities fall under additional personnel, tax technology or process optimization, you’ll find the eBook valuable in learning the right skills to support your manager’s business priorities for the entire team.

 

Take Action

Get the eBook: Tomorrow’s Tax Leader – How to Cultivate Talent and Technology to Succeed Amidst a Volatile Tax Landscape to learn 5 critical skills today’s indirect tax professional will need to succeed.

The post Tax Analyst Skills Needed for the Future of Indirect Tax appeared first on Sovos Compliance.

 

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