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The key technology enabler in this arms race, digitalization, is notably playing across all tax regimes. And the pressure is on to scale up digitalization efforts. The digitalization of administration, and the digital era in which we now live, has consequences for our interactions with one another. The digital era is everywhere, and its impact on government, tax administration, and the tax professional has been unparalleled. That’s why we created a new taxonomy for digitalization to fill gaps in the taxonomy for digitalization. Below is some recommended reading for your training. The Digital Tax: Podcast about the internet and taxes
In this view, digitalization is nothing less than the key foundational technology for the 21st century. It is, by far, the most visible manifestation of this new mentality. From being a part of our everyday we can’t help but become saturated with it. Our digital world dominates everyday lives, and tax is increasingly thought of as a part of the digital world. The digital world is everywhere, and we can’t escape it. It is a new paradigm that will certainly shape how we live and transact. Governments, Tax Authorities, and Tax Professionals must start to think about how they will adapt to it. This is the central concept of the Digital Tax. Our tax ideas have always had a world beat to them. They have had a place for the advancement of subjects or ideas. In the 21st century, as the internet boom became the mainstream, our tax ideas were rooted in the world of connectivity, a world that people from all over the globe can connect through.
We are now about to leave that world behind. The digital era is here, and it is changing tax. The digital, world of connectivity has come to tax, and tax is no longer rooted in the world of capture of information. Today, tax professionals must also be able to utilize technology to impartially capture information. d2c66b5586