Complying with tax obligations and assessing tax liabilities can be a time-consuming task, whether for companies doing business in multiple jurisdictions with different tax processes and requirements, for SMEs which may have limited resources or for individuals with complex tax affairs. The increasing use of data and data analytics, as well as the digitalization of tax administration over the last decade, has helped in reducing some of these burdens as well as improving the effectiveness and efficiency of tax administration.
A defining feature of modern tax administration is now the massive amount of data that has become available to tax administrations, including data required by law. This carries costs associated with the reporting and storage of data, risks for data privacy and data protection, as well as benefits in the assessment of tax liabilities, identification of non-compliance and fraud and the generation of new insights and applications.
As the volume of data increases, so has the use of artificial intelligence and machine learning become more prevalent, assisting tax professionals and tax administrations in their respective roles, uncovering patterns in mounds of data that can be missed by humans and informing decision-making in multiple areas.
Join our panel of experts for a discussion that will address how the use of AI driven data analysis, both by companies & tax administrations, could change taxation worldwide.
Setting the stage – big data and AI
There is more tax data than ever and the tax databases of authorities and tax preparers are both enormous and generally well-validated.
● What are the benefits/challenges of this wealth of data?
● What are the use cases for AI now and in the near future in the field of taxation, including across borders.
Regulatory Aspects – what concerns does AI and Big Data raise?
● How to protect privacy and confidentiality?
● How are tax authorities managing increased amounts of data?
● How to decide when data can be shared and with whom?
Governance of AI processes:
● How is the use of AI best governed?
● Decision-making by AI – what are the limits?
● Challenges presented by the use of AI in tax analysis from a regulatory aspect
Look into the Crystal Ball – what might we expect in 10 years’ time?
● Trend towards real time taxation – does this inevitably mean more data flows?
● Can more seamless taxation be achieved by moving taxation processes into taxpayers’ natural systems rather than bringing data into tax administration systems?
● What type of technology is already available and which need to be developed to move to more seamless taxation?
● How might the role of AI in taxation develop?
● Ivan Roussev, Data Scientist, EY [moderator]
● Peter Green, Head of Forum on Tax Administration Secretariat, OECD
● Christian Hallum, Tax Justice Lead, OXFAM
● Frank Sangers, Chief Financial Officer, CITIZENM HOTELS
MORE INFORMATION ABOUT OUR SPEAKERS
EACC Texas and EACC NY Members: Free
It is a joint webinar organized by EACC New York and EACC Texas.