Thomson Reuters released their annual State of the Corporate Tax Department Annual Report on June 8. The report summarizes the results of an online survey of tax departments for small-to-large corporations, both within and outside the U.S. and across a broad range of industries.

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Tax reform was cited as the most common challenge faced by tax departments, which echoes the 2020 survey results. “Per our latest survey of indirect tax departments, 57% anticipate major government change, specifically around digital filing or in some cases real-time reporting,” said Sunil Pandita, President of Corporates for Thomson Reuters. Specific tax workstream and new technology and automation round out the top three challenges. Reducing tax liability tied for fourth place with…

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