Stakeholders such as investors, customers, vendors, the media and the general public will be interested to understand how the company adapts to the changing tax landscape such as new rules, new ways of doing business as well as any future direction of the business that may attract additional taxes or the impact to tax costs.
TAXATION has shifted in such a big way that the typical tax function of yesterday that mainly focused on compliance is not the main emphasis, but key for the future of tax function is being more proactive in business decisions and understanding the tax impact on the business transactions.
This means taxation plays a role for future business decisions rather than an afterthought or merely to meet compliance obligations.
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