What Is Needed To Realize Objectives?

The indirect tax department consists of the right number of tax personnel and the right level of skills and capabilities to be successful. In order to realize the mission statement in the tittle of this paragraph the following also needs to be assessed to test whether set objectives can be actually realized:

1. Are the right tax competencies available?
2. Is enough skilled tax personnel available?
3. Is there access to external expertise in a timely manner?
4. Is there sufficient budget available to realize objectives, considering the tasks and responsibilities assigned to our tax department?

Chris Needham, GE’s Global VAT and GST Director: ”But increasingly, we also need to deal with VAT questions around compliance, reconciliations and documentation. And to do that, you need people who’ve got more accounting skills and are also informed and competent in VAT. We need technology-literate people to build our VAT portal to prepare the return, which is our third part of the skills puzzle.” From EY Tmagazine Issue 8

Do you agree with Chris Needham?