Page 5 of 5: Addressing the Gap Between Current Capabilities and Future Needs
The indirect tax function often recognizes that it is understaffed and constrained by a limited budget, hindering its ability to execute tasks optimally. However, it frequently struggles to communicate this issue effectively and get it prioritized on the CFO's agenda. Consequently, the deployment of specialized fiscal knowledge tends to be limited primarily to direct tax oversight.
To succeed, the indirect tax department must have the appropriate number of personnel equipped with the necessary skills and capabilities.
Surveys indicate that indirect tax teams are often inadequately sized in comparison to their direct tax counterparts, which not only have more staff but are often positioned more effectively within the organization. By fostering improved collaboration between the Head of Tax and the indirect tax function, it is possible to elevate the visibility of indirect tax within the CFO's purview.
To accomplish the objectives outlined in this section, it is essential to assess additional factors that will determine whether the set goals can be realistically achieved.