Tax technology gathers pace.........by Simon Godley
Wednesday 26 September 2007
Whilst in the long run this could be bad news for tax accountants as their work load decreases, Talentpool is currently finding an increasing demand for tax professionals to actually switch into the area of tax technology.
The current tax technology market is broadly serviced by 2 types of organisation. There are teams in the Big 4 firms that advise multinationals on their tax technology requirements. Then we have the software houses that design, develop and market tax software products. There is now a large array of products to choose from for each area of tax, including specialist areas such as property taxes and transfer pricing. Some of the Big 4 firms have also developed their own tax software products, which they market to clients, and hence compete against the software houses.
I think it is only a matter of time before industry, particularly amongst the large top end FTSE 100 type companies, also bring in-house this tax technology know-how and expertise.
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