Like all other areas of tax, corporate property tax teams have been facing a sea of new challenges in recent years. Not only is the amount of data they have to work with increasing at a rapid pace, but expectations for tax teams are shifting, as well. One recent study indicates that, while compliance is a necessity (and remains a top priority for 27% of companies), it’s no longer the sole priority for most organizations. Other top concerns include:
- Tax planning—22%
- Providing proactive support for the organization’s wider business and capital agenda—21%
- Managing the cost of the tax function—16%
- Positioning the tax team to provide insights—13%