Tax Interim Newsletter 2019

Ektaa Kumar 24.07.2019

An update on the Interim Tax jobs and market in the first half of 2019. 

Interim Tax Newsletter H1 2019

2019 has faced the tax market with a lot of uncertainty. The global tax environment continues to develop at an exponential pace with very little signs of slowing down. What has been evident is that the challenges a tax department now face are much more complex than simply managing the Effective Tax Rate (ETR). Issues such as Reputational Risk, Tax Transformation and the ever looming implications of Brexit are the priority to Tax Leadership teams and as such we’ve seen a huge shift in skillset demand in the market.

Making Tax Digital has been a key feature on the agenda for 2019 so far, with digitalisation disrupting traditional business models and changing the ways in which businesses interact with its stakeholders. Meanwhile, the ongoing fundamental debate around how digitised business models should be taxed has garnered more attention than ever thrusting Tax Teams and their capabilities into the spotlight. This has, inevitably, caused an ongoing effect on the treatment of tax. This has led to the establishment of newly defined tax opportunities for professionals with strong capabilities within the tax technology space.

The shift of skill set has only been further enhanced by MNE’s appetite towards Tax Risk and Reputational issues around this. Multinational Enterprises have implemented a robust tax infrastructure with the approach of zero tolerance to uncertainty. This has led to Tax teams becoming more business aligned and therefore has changed the guard in tax skills.

Brexit has caused an air of caution in the market with Heads of Tax facing the pressures of the outsourcing model, cost reduction and relocation of Tax services. However, we’ve seen a strong spike in appetite for Tax Temporary resource due to the flexible arrangement that this solution offers. Without longer term stability around the current business climate, hiring managers have been more inclined to consider a temporary resource who, not only, allows for a degree of flexibility but often also approaches the tax team with greater degree of exposure and the ability to hit the ground running (having had to adapt in a few different environments prior to this).

Ektaa Kumar's picture
Head of Tax Interim
ekumar@morganmckinley.co.uk

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