Managing tax and statutory compliance in today’s highly complex economic and regulatory environment is no easy task. Regulatory compliance is one of the major causes of concerns for most enterprises today. Unprecedented economic challenges are forcing companies to rethink the way they do business. For many, this includes taking a closer look at how they manage their compliance obligations on a worldwide basis.

Rapid globalization, new developments in tax laws, changes in accounting standards and increased demands from revenue authorities for greater transparency and cooperation are all increasing the burden on tax, legal and finance departments. At the same time, they are expected to provide better reporting and compliance in an ever shorter time frame. Operating in numerous countries requires coordination of subsidiaries with diverse accounting practices, legislative environments and local business customs.