As part of efforts to embrace digitisation and streamline tax functions, organisations and government’s in Africa have been urged to properly integrate tax risks into a broader enterprise risk management framework, a tax expert has advanced.
According to Delia Ndlovu, most tax leaders are starting to evolve towards positioning themselves as strategic business partners and enablers who help business stakeholders to understand the tax risks and their potential negative reputational and cash flow impacts.
“Against this backdrop, the tax landscape continues to change rapidly and in an unprecedented manner. Many organisations are starting to focus on optimising their tax functions and are carefully considering either co-sourcing or outsourcing with their tax advisors.
“Most tax leaders are in need of assistance with streamlining their processes, automating recurring compliance work and capitalising on using technology to unlock efficiencies and to enhance agility. The future of work has become even more key.”
This was contained in a 2021 guide to fiscal information for key economies in Africa by financial advisory firm, Deloitte.