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Thomson Reuters Report: The 2022 State of the Corporate Tax Department

The technology needed to meet the growing demands of the digital economy is pulling corporate tax departments in several directions all at once.

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Thomson Reuters’ latest "2022 State of the Corporate Tax Department Report" examines how departments can find the best balance between technology and their professional talent needs.

Specifically, this year’s report delves into the inescapable tension between corporate tax departments that are seeking greater effectiveness and efficiency through technology, and tax professionals in those departments who are constantly being asked to do more, faster, and with fewer resources.

To find out how these tensions are affecting corporate tax departments worldwide, Thomson Reuters surveyed hundreds of tax professionals from dozens of countries about how their companies are preparing for regulatory change and what role technology is playing in their strategic development.

Indeed, this year’s report shows that 73% of respondents to our survey said they expect to see changes in government tax requirements within the next two years, but 57% of tax department employees don’t feel they have the resources they will need to meet the requirements these tax reforms will inevitably demand.

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