Binka Layton considers the current trends in tax compliance outsourcing and best practice for implementing arrangements with service providers
Businesses can see tax compliance outsourcing as a disruptive event. There is thinking to do about whether it is the right decision for business, the benefits of such an arrangement and the processes that need to be undertaken to appoint a service provider. Outsourcing arrangements in this context refer to a third party outside of the business taking over the tax compliance and reporting preparation and delivery on a contract basis.
This article considers why businesses are now increasingly looking at tax outsourcing arrangements, and the best practice approach to identifying a service provider and managing the implementation of any change.