The ways of doing business are changing worldwide due to the increase in global competition and digitalization of means of communication, business expansion, and reach to the global customers. The growth of business requires proper strategies, ideas, and focus on the core business. The complexities of the tax provisions may create hurdles in the way of the growth of the businesses and to navigate them successfully corporate tax services play an important role. The taxation of corporate business entities in accordance with the applicable tax laws is known as “Corporate Taxation”.
Tax is usually a key issue on the board’s agenda and a central factor in business decisions. Boards are looking for pragmatic ways to efficiently manage tax functions and risks. Besides, in today’s age of digital transformation, organisations are evolving with innovative business models, using technology to mitigate physical boundaries to operate globally. Given the pace of transition, tax policymakers are making frequent and necessary changes to the tax laws. Further, there has been a tremendous change in the way tax authorities function today and seek information towards various tax compliances. Accordingly, businesses would need to be more agile and proactive to review changes in the tax laws and comply with the requirements of tax authorities.