Digital technologies provide companies and tax authorities with better access to data and facilitate the exchange of information between countries. Companies need to manage their tax affairs more carefully and ensure that they are globally compliant and that no unintended tax risks are taken. Proactive tax analysis, for example of transaction data, provides excellent transparency and greatly minimises risks.

When operating in an international environment, companies must understand and comply with the tax regulations in each country of operation. These regulations can differ significantly and are often complex. The presence in several countries and the application of different tax laws can lead to double taxation, among other things. Such situations require complex procedures for tax relief. Furthermore, the complex rules on the global minimum tax Pillar Two must also be observed.

Tax legislation can change quickly, especially in a digital and globalised environment. It is therefore crucial for companies to stay up to date and act proactively. In addition, the challenges can only be overcome if the storage, procurement, processing and analysis of data are carried out in close coordination with the tax function.
The WTS Compliance Manager or a digitally set up tax compliance management system offers an ideal solution for ensuring compliance.