Multiple megatrends are disrupting the very nature of global corporate tax operations. The pace of regulatory change and the digitalization of tax authorities, demands for transparency, technological advances and the explosion of data are just a few of the forces redefining how tax functions must operate. Yet the technology, leadership and skills within many global tax functions have not kept pace.

In the context of this digitally evolving marketplace, EY's global survey was conducted to gain insight into the current challenges of the tax function. Among the varied perspectives we gained, there was one overarching conclusion: tax functions must close the data and technology gap, and do so as quickly as possible, if they are to keep pace with today's rapidly evolving demands.

This study, attached below, includes survey responses from a group of 100 of the largest multinational companies with median US$12b+ in revenue. The survey was conducted in May 2019 by the EY Quantitative Economics and Statistics (QUEST) group and Wakefield Research.

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ATTACHMENT

2020 Global Tax Technology and Transformation Survey