Governments have been spending billions of dollars to revitalise economies and effectively combat other effects of the current COVID-19 pandemic. The tax landscape continues to change, resulting in both businesses and regulators having to calibrate and innovate. New tax reforms and incentives will likely be implemented to encourage investments and foster local economic growth, whilst tax authorities are expected to increase audit activity and focus more on tax governance.
As such, organisations are facing increasing pressure "to do more with less" and will need to effectively re-evaluate their tax governance measures to get ahead of the curve.