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Rethink your operating model
The convergence of big market trends — recessionary forces, economic uncertainty, cost pressure and digitization — combined with new global and domestic regulatory changes, including Pillar Two, requires many companies to rethink their overall operating model. Tax plays a key role in driving strategy, creating savings toward paying for these efforts, while also shaping the tax department agenda in light of competing demands.
An open letter to executives: Effective execution of strategy requires a tax lens
Embedding a tax perspective into your company's strategic plan is now essential. With policy changes on the horizon and demands for cost management, technology transformation, and business model optimization, tax capabilities are crucial. Tax departments can significantly contribute to cost-cutting, resource allocation, and regulatory risk reduction.
Plan ahead with tax
Sixty-two percent of tax leaders are working with management and the board to inform business strategy based on the impact of US and global tax policies, according to the November 2022 PwC Pulse Survey. These considerations go beyond costs. It's about strategizing on approach to identify opportunities earlier and to help manage tax exposures and risks associated with the company’s operations. How? By involving tax early and often.
With Pillar Two on the horizon, it will have an effect on the business as a whole, and having tax in your strategy is crucial to overcoming the challenge. Companies will need to ensure that their current strategy, processes, and technology can support the new requirements that this framework will bring.
Value chain transformation
Rethinking business operating models from various organizational levels
- Evaluating your value chain management process
- Exploring value chain improvement options
- Presenting tailored options that align to your specific needs
Tax reporting and strategy
Expand the tax role to include research, analytics and technologies, and improve how your organization collaborates and performs
- Strategy and operations
- Automation and technology
- Transactions and integrations
Research and Development (R&D) tax credit services
Credits associated with research and development can often pay for a portion or all of a transformation effort that includes a technology build, enhancement or customization
- Manage your data
- Conduct your study
- Collaborate remotely
- Access data in real time
State and local tax
Changing operating and business models can have far reaching state and local and value added tax implications and opportunities.
- Enhanced tax structure to drive state and local tax efficiencies and reduce complexities.
- Assess indirect tax opportunities and issues including VAT as they relate to compliance, assessment and risk management, business expansion, mergers, acquisitions, and reorganizations, excise tax, systems, processes, and controls, refunds and cash flow and policy and design.
- State credits & incentives as well as location analysis and direct & indirect tax review to help free up capital as a pay for.
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